July 11th 2022

Negotiations between Azelio and the trade unions are completed

 On June 9, Azelio announced that the company had decided to transform the organization and in connection with this,  gave notice to the Swedish Public Employment Service regarding 100 employees. Negotiations with the trade unions on the notice have now been completed with the result that the  number of employees is reduced by 55 persons through a combination of layoffs and people who leave at their own request without being replaced.

 

In addition to the number of employees being reduced by 55 persons, major reductions are also being made in the number of consultants.  Since the company introduced a tighter cost control at the beginning of the second quarter, decisions have been made to reduce the number of consultants by 68, which means that the total reduction in the workforce will be 123 persons.

 

The effects of the reduction in personnel will have an impact in the third quarter and especially in the fourth quarter and onwards. As a result of this and other measures, including the tighter cost control, the company expects to realize the approximately SEK 150 million in reduced costs that were communicated in the press release about Azelio’s transformation that was published on 9 June 2022.

 

The work continues to implement the new organization and new more efficient and agile organizational principles for the company to be able to deliver on its operational goals.

 

 

 

For more information, please contact:

CEO Jonas Wallmander  

Email: ir@azelio.com  

Tel: +46 725 00 37 00  

 

 

   

About Azelio

Azelio specializes 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 and 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 20 MW. Azelio has approx. 200 employees with headquarters in Gothenburg, Sweden. Production takes place in Uddevalla and the company maintains development centers in Gothenburg and Åmål, has a presence in Stockholm, as well as Regional Directors for Australia, US, southern Africa and the MENA region. Azelio is listed on Nasdaq Stockholm First North Growth Market with FNCA Sweden AB as Certified Adviser: +46(0)8-528 00 399, info@fnca.se. 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.

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