July 18th 2023
The Board of Directors of Azelio AB (publ) has today decided to file for bankruptcy of Azelio AB. The bankruptcy application will be filed at the Gothenburg District Court.
The reason for the decision to file for bankruptcy is that Azelio has not been able to secure sufficient financing to be able to operate the business to make it possible to complete the discussions about, and subsequently be able to enter into an agreement with, the strategic partner that was announced on May 2, 2023.
"The Board and management have been working hard for a long time with the goal of establishing the strategic partnership previously announced. Despite a great interest in our technology, we have not been able to secure the company's financing. The Board will therefore apply for bankruptcy of Azelio at the Gothenburg District Court", says Chairman of the Board Bo Dankis.
For further information, please contact:
Bo Dankis – Chairman of the Board
Phone: +46 (0)70 394 8542
Azelio is a Swedish cleantech company. We have developed an ingenious long duration energy storage technology, providing dispatchable electricity and usable heat for all hours of the day – with zero emissions and at a very competitive cost.
417 56 Gothenburg
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