The first commercial project in Sweden with Azelio's energy storage solution has been commissioned at Industrisupport i Åmål AB, Sweden. The order was announced on March 29, 2021 and includes two TES.POD units that are charged from solar panels, and move excess energy to match the demand and create renewable baseload power. The system will also provide Industrisupport i Åmål AB with heat that also reduces dependence on the district heating network.

"It is very good for Azelio that our first commercial project in Sweden has now been commissioned. Sweden is not one of our initial target markets, but having a commercial project in operation almost in our own backyard provides excellent opportunities to effectively accumulate valuable experience in order to be able to optimize the system further towards our customers' needs in the long run", says CEO Jonas Wallmander.

Industrisupport i Åmål AB owns an industrial hotel of 22,000 m² where premises are rented out to industrial customers. The operation of the storage system will be handled by Azelio for the first three years.

"I am very pleased that we now have our energy storage system in operation. Early on, we saw both the environmental and economic potential of being able to direct the use of our self-produced solar energy to times that match our energy needs. The value in gaining greater control over our energy costs has only become clearer in recent times," says Jimmie Karlsson, at Industrisupport i Åmål AB.

For more information, please contact:

CEO Jonas Wallmander             

Email: ir@azelio.com               

Phone: +46 722 01 88 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 is headquartered 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: More about Azelio: www.azelio.com