July 1st 2021

Clarification due to article in Dagens Industri 20210702

Swedish news magazine, Dagens Industri has today (20210702) published an article with speculations related to Azelio's commercialization. The speculations are based on inaccuracies and we therefore wish to make the following clarifications.

The article highlights that we have "begun to hover on the goals of future production". The reason should be that CEO Jonas Eklind talked about “production capacity” and that in annual reports and previous statements we talked about “production goals.

  • When we plan for production, we need to dimension for volumes, which are the basis for, among other things, suppliers of components. A goal is set for this – a production goal to ensure that a certain production capacity is available. What then determines the production volumes are orders from customers. Here, the article has based the uncertainty on the fact that we have used both production and capacity goals. Although these concepts have the same meaning, the article ignores the fact that we already wrote in the annual report from 2019 "The company's production goals and capacity".

Regarding our partners, we have been clear that we do not comment on ongoing negotiations or projects as these are held within confidentiality agreements (NDA). This applies to all collaborations and the 15 Memorandums of Understanding that we have signed.

We communicated in 2020 that verification and testing of the technology have been relocated to the installation in Åmål due to the prevailing pandemic and travel restrictions. That information does not appear in the article.

 

For questions, contact
Johan Sahlin, Communication/IR at Azelio
johan.sahlin@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.

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Contact information

Azelio
Lindholmsplatsen 1
417 56 Gothenburg
Sweden

Phone: +46 532 100 20

Email: info@azelio.com

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