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18th of February 2019

Solar power company Azelio progress with increased competence, new test facilities and presence in Morocco

Press release, 18 February 2019

Azelio has started the year with continued positive development. In line with the business plan, the global presence has been expanded with presence in Morocco. The development center in Åmål in Sweden has expanded its testing facilities for product verification. The company has also been reinforced with increased qualified expertise to progress the industrialization as planned and prepare for a coming commercial breakthrough.

Azelio continues to advance towards a commercial breakthrough, strengthened by a positive 2018 that awoke a vast global interest for Azelio's unique energy storage technology with sustainable electricity generation. In 2019, a strict focus is aimed on the next important milestone of the company's industrialization. Together with its strategic partner, Moroccan state-controlled, Masen (Moroccan Agency for Sustainable Energy), a full-scale verification project will be built in Morocco by the end of the year. In order to take this step in the development towards a global commercialization Azelio has expanded with qualified competencies over the past six months according to business plan. The 61 employees at the beginning of summer in 2018 have been reinforced with an additional 31 employees. The development center in Åmål is expanding with additional test facilities for verification purposes in preparation for future market installations. The global presence has also increased with an office in Morocco, in order to work closely together with Masen and Moroccan suppliers. Azelio has since previously, in addition to its operations in Sweden, an office in China.

“We have an eventful and positive year behind us, and now we are fully focused on taking the next important steps in fulfilling the goals in our business plan. We have a great interest from potential customers as well as suppliers and partners, and above all, we are proud that so many qualified people are joining us”, says Jonas Eklind, CEO.