November 20th 2020

Interim report: Successful directed share issue

Group financial development

Q3: Jul – Sep 2020

  • Net sales amounted to kSEK 164 (285)
  • Operating profit/loss (EBIT) amounted to kSEK -49,536 (-46,115)
  • Earnings per share before and after dilution SEK -0.53 (-1.09)
  • Profit/loss for the period amounted to kSEK -49,764 (-46,089)
  • Cash flow amounted to kSEK 192,859 (-63,965)
  • Cash and bank balances amounted to kSEK 417,027 (136,140)

First nine months: Jan – Sep 2020

  • Net sales amounted to kSEK 622 (1,099)
  • Operating profit/loss (EBIT) amounted to kSEK -142,938 (-107,152)
  • Earnings per share before and after dilution SEK -1.57 (-2.54)
  • Profit/loss for the period amounted to kSEK -143,431 (-107,409)
  • Cash flow amounted to kSEK 361,371 (-195,020)
  • Cash and bank balances amounted to kSEK 417,027 (136,140)

Significant events

Q3: Jul – Sep 2020

  • An MoU was signed with ALEC Energy for 49 MW of energy storage in the Middle East and Africa.
  • An agreement was signed with ALEC Energy to install a verification project in Masdar City, the sustainable city project in Abu Dhabi.
  • The installation of the verification project in Abu Dhabi was initiated. The purpose of the project is to evaluate Azelio’s energy storage technology for inclusion in the Masdar product portfolio.
  • Leading global safety science company and certification body UL was chosen to enable Azelio’s commercial operations in the US market. The objective is to achieve a field certification of Azelio’s technology in 2021 for a specific project in California.
  • An MoU was signed with Atria Power for an energy storage system with a capacity of 65 MW in India. The system will be used to deliver both electricity and heat to rural villages and communities in India.
  • A share issue of a gross SEK 270.6 million was directed to several new Swedish and international institutional investors and certain existing shareholders.
  • A Life Cycle Assessment carried out by the Swedish research institute RISE showed that the climate impact of Azelio’s energy storage system (TES.POD) is significantly less than that of lithium-ion battery storage and dramatically less than that of diesel generators.

After the end of the period

  • Azelio joined the California Solar & Storage Association (CALSSA) to strengthen its presence in the state. The local solar and storage market in California is highly active and Azelio has signed three MoUs to date in the state.
  • Azelio verified the performance of its energy storage system in accordance with the specification of 13 kW output power with a storage capacity corresponding to 13 hours of electricity production. The company thus achieved a milestone in the commercialisation of the system.
  • An MoU was signed with Jet Energy for energy storage of 45 MW in Morocco and other parts of francophone Africa.

For further information, please contact

Jonas Eklind – CEO

Email: jonas.eklind@azelio.com

Tel: +46 709 40 35 80

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.

www.azelio.com is using green hosting

Contact information

Azelio
Lindholmsplatsen 1
417 56 Gothenburg
Sweden

Phone: +46 532 100 20

Email: info@azelio.com

© Azelio 2022