February 28th 2020

Year-end report: Continued fast pace towards commercial contracts

Significant events

  • MoUs signed with STELLA Futura and ND Power for two commercial projects in Africa
  • MoU signed with US firm Biodico for installations amounting to 120 MW in California
  • New organisation introduced ahead of commercialisation
  • Final testing of pump system developed with Swiss firm Egger for transferring heat to the energy storage system
  • Electricity from photovoltaics means the verification project in Morocco is opening up new markets
  • Expressions of interest increase to around 3,900 MW or SEK 170 billion in potential order value
  • Extraordinary general meeting on 26 November approves new share issue
  • MoU for project in Oman
  • SEK 350 million rights issue oversubscribed
  • The financial statements are prepared in accordance with IFRS.

Finansiell utveckling koncern

  • Net sales amounted to kSEK 571 (269)
  • Operating profit/loss (EBIT) amounted to kSEK -53,357 (-26,337)
  • Earnings per share before and after dilution SEK -1.26 (-0.81)
  • Profit/loss for the period amounted to kSEK -53,487 (-26,372)
  • Cash flow amounted to kSEK -80,441 (252,679)
  • Cash and bank balances amounted to kSEK 55,634 (331,196)

For more information, please contact:

Jonas Eklind – CEO of Azelio
Email: jonas.eklind@azelio.com
Tel: +46 70 940 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.

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Contact information

Lindholmsplatsen 1
417 56 Gothenburg

Phone: +46 532 100 20

Email: info@azelio.com

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