Context

Azelio is a Swedish renewable energy equipment company developing a unique modular 24h dispatchable thermal energy storage (TES) solution.

Founded in 2008, the company has invested over SEK 1.5 billion in technical development to offer green dispatchable power from solar and wind in micro grids.

On the brink of large-scale commercialization, the company has to date generated over 120 interest enquiries representing 3,900MW and has turned 11 of these enquiries into MoUs representing c. 375MW.

As of September 2020, the TES solution is undergoing two verification projects in Morocco and UAE, with first data expected in H2 2020: if positive, this will trigger the first commercial projects.

The capital raise is intended to finance the Company’s ongoing operations and the continued industrialization of Azelio’s Thermal Energy Storage (TES) and Stirling-based electricity production technology.

Azelio tombstone 2

About Azelio

Azelio is a public Swedish company specializing in thermal energy storage with dispatchable and low-cost Stirling-based electricity and heat production. The technology is revolutionary for its unique capability to produce electricity and heat from the storage at 13 hours on nominal power. The system stores energy in recycled aluminum and has a total efficiency of up to 90 % from energy to heat and electricity. It is scalable and cost-efficient from 0.1 MW up to 100 MW and the storage suffers no reduced capacity over time. Azelio has over 150 employees, is headquartered in Gothenburg with production facilities in Uddevalla, development centres in Gothenburg and Åmål, as well as a presence in Stockholm, Beijing, Madrid, and Morocco. Since its establishment in 2008, the company has invested over SEK 1.5 billion in technical development. Azelio is listed on Nasdaq Stockholm First North.

Discover Azelio

Tor Berthelius

Investment Banking Head of Nordic Operations

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Pierre Kiecolt-Wahl

Equity Capital Markets

Pierre Kiecolt-Wahl photo

Olivier Beaudouin

Investment Banking

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Gregoire Angleys

Investment Banking

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Pierre Sertour

Equity Capital Markets

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Deal Team

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