Annual report 2018
Access to reliable, sustainable and cost-effective electricity is critical for the development of societies where industries are being established and efficient infrastructure is needed. Over a billion people in the world’s sun belt regions today lack access to electricity and in Africa alone, 65% of the population have no access to a reliable electricity grid. An unreliable grid affects not only households, but also hospitals, factories, telecom systems, public buildings etc. The alternative that exists today is a diesel generator, which is both expensive and causes large volumes of emissions.
Azelio has developed a scalable and highly cost-effective solution for storage of thermal energy with production of sustainable electricity where and when it is needed, 24 hours a day, as part of a micro grid or an off-grid system. It is a solution that provides opportunities for financial and sustainable development for societies and hundreds of millions of people. Azelio’s solution produces sustainable electricity around the clock at a significantly lower cost than other solutions on the market for distributed electricity production.
Azelio’s production plant in Uddevalla was acquired from Volvo Cars in 2013. With industrial volume production of components and with suppliers from the automotive industry etc., Azelio can keep production costs low and achieve a high level of efficiency throughout the processing chain. The annual production capacity with the existing production line is 23,000 engine units per year, but within the current plant this can be scaled up to 46,000 units a year as needed.
Azelio has a strong organisation with experienced individuals from industries such as automotive, aviation and renewable energy. Development takes place in close cooperation with leading global actors in the energy sector as well as prominent research institutions, such as the Royal Institute of Technology (KTH) and Chalmers University of Technology in Sweden and Khalifa University in Abu Dhabi. With a global network of strong and established partners combined with a large number of potential customers, many of whom emerged after the Company’s public technology demonstration in June 2018, the Company is well prepared for a commercial rollout.
The annual production capacity, with existing production line, is 23,000 engine units per year, but can within the current plant scale up to 46,000 units annually if needed
On its first day of trading, 10 December 2018, the share was traded at SEK 22 per share. At the end of the period on 31 December 2018, the share was traded at SEK 12.24 per share, a decrease of SEK 9.76.
The Group’s share capital at the end of the period amounted to SEK 21,174,000 spread across 42,347,495 shares.
More about this year's achievements
Read more about our business