Subject: PDT
Azelio receives first order for its long-duration energy storage system in the United States
STOCKHOLM, June 21, 2022 /PRNewswire/ -- Azelio AB, a Swedish cleantech company, has received its first U.S. order for its long-duration energy storage, the TES.POD, from Handi Stop Market in Fresno, California. Handi Stop will combine two TES.POD units with solar power to meet half of the energy demand at one of its locations.
The combined system including solar power, will provide 140 MWhe of clean power annually, representing half of the Handi Stop Market's total energy demand and a starting point for resiliency purposes providing stable power supply during power outages.
In addition to delivering electricity, the units will provide data to the U.S. certification project that Azelio is carrying out in collaboration with MMR (mmrgrp.com). Units adapted to U.S. standards are expected to be integrated and installed at the Handi Stop Market in the first half of 2023.
Handi Stop Market is placing the order on commercial terms, reflecting the fact that the units also will provide data to the certification project.
The project will serve as showcase for many other potential applications in the Central Valley region in California, such as EV charging stations, walnut plantations, poultry, egg and dairy farms, wineries as well as local rural communities.
"This is a strategically very important order for Azelio, as it helps pave the way for a broader introduction of our long-duration energy storage in the United States. I am convinced that our technology can play a great role in increasing the use of renewable energy solutions in the vast U.S. market," says Azelio's CEO Jonas Wallmander.
The use of solar energy is growing globally, with an increasing number of public and private entities using solar-based electricity and heat, with the limitation that it is only available when the sun is shining. Azelio's TES.POD stores solar energy, or energy from other sources, as heat and converts it into electricity and usable heat at a low cost, when it is needed around-the-clock. The TES.POD system's performance has been validated by leading certification company DNV.
Azelio is currently adapting its product to U.S. standards and is working towards achieving a full U.S. certification. The certification work is carried out in collaboration with MMR Group.
The Handi Stop Market consists of a gas station, a convenience store and a fast-food outlet.
For further information, contact:
CEO Jonas Wallmander VP Business Development Ralf Wiesenberg
Email: [email protected] Email: [email protected]
Tel: +46 708 870 878 Tel: +34 699 30 86 36
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, at 07:20 CET on June 21, 2022.
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, as well as a presence in Stockholm, Madrid, Cape Town, Brisbane and Ouarzazate. Azelio is listed on Nasdaq Stockholm First North Growth Market with FNCA Sweden AB as Certified Adviser: +46(0)8-528 00 399, [email protected]. More about Azelio: www.azelio.com
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