December 22nd 2021
The independent validation of Azelio's energy storage system TES.POD, carried out by DNV, demonstrates clearly that the system performs in all aspects according to the technical performance specification. Customers can use the validation as a basis for external financing of projects with Azelio's technology. Previous verification of the system has proven sufficient as a basis for the orders signed by the company to date. The validation now carried out means that larger projects can be financed, in accordance with the company's growth plan.
During the validation period, Azelio's TES.POD has been charged with 100 kW for 6 hours and producing electricity from stored energy via a Stirling engine, at the system's nominal power according to the specification of 13 kW for 13 hours. At 13 hours of production at nominal power, the energy storage continues to have a number of hours of remaining production capacity. This further strengthens the competitiveness of the solution as a long duration energy storage system, allowing for intermittent renewable energy from, for example, solar and wind, to be in line with demand and closing the 24-hour circle with clean energy.
“This is an important milestone for Azelio and a major step in our industrialisation. The need for long duration energy storage that enables renewable energy around the clock is substantial. The independent validation from DNV now makes the solution more accessible to customers as a basis for financing projects with Azelio's technology,” says Jonas Eklind, CEO of Azelio.
For further information, contact
Jonas Eklind – CEO
Tel: +46 709 40 35 80
Azelio specialises in energy storage with electricity and heat production. The technology is revolutionary in that the energy becomes dispatchable, making renewable energy available around the clock. The energy is stored in recycled aluminium from which it is converted into electricity and heat with a total efficiency of up to 90 %. The solution is scalable, sustainable, and cost-efficient from 0.1 MW up to 100 MW. Azelio has approximately 180 employees, is headquartered in Gothenburg, has production in Uddevalla (Sweden) and development centres in Gothenburg and Åmål (Sweden), as well as presence in Stockholm, South Africa, Australia, Middle East, China, Spain, and Morocco. Azelio is listed on Nasdaq Stockholm First North Growth Market with FNCA Sweden AB as Certified Adviser: +46(0)8-528 00 399, firstname.lastname@example.org. More about Azelio: www.azelio.com
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
Phone: +46 532 100 20
© Azelio 2023