This order is of strategic importance, being Azelio’s first commercial project in the Swedish market. The order for two TES.POD units is placed on commercial terms, with Azelio’s energy storage solution selected ahead of li-ion battery alternatives. The system will combine the TES.POD with solar PV already installed by Svea Solar – Sweden’s largest solar PV installer and current collaborator with Azelio for joint projects. Azelio’s TES.POD will better utilize the renewable energy produced by handling energy shifting for renewable baseload power in the system, as well as provide Industrisupport i Åmål AB with heat that will also reduce their dependency on the local heating network.

“This is a milestone of strategic importance for Azelio. We have already initiated a commercial project in Dubai. This order shows the versatility of our storage solution and proves the commercial viability also in the Northern part of Europe”, says Jonas Eklind, CEO of Azelio.

Industrisupport i Åmål AB owns an industry hotel of 22 000 m2where premises are rented out to industrial customers. The operation of the storage units will be handled by Azelio during the first 3 years of operation.

“Given our extensive energy demands we are ambitious to use energy more economically and with a less negative impact on the environment. We have already installed solar PV and are now looking forward to expanding our use of renewable energy and strengthening our sustainability profile with Azelio's energy storage", says Jimmie Karlsson at Industrisupport in Åmål AB.

This disclosure contains information that Azelio AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29 March 08:30 CET, 2021.