Based on a directed share issue of 12.3 million new shares, the company received proceeds of approximately SEK 270 million before issue expenses. Several new Swedish and international institutional investors as well as certain existing shareholders subscribed for shares in the issue. The proceeds will be used to finance the company's ongoing operations and the continued industrialisation of Azelio's Thermal Energy Storage (TES) and Stirling-based electricity production technology, with the objective of reaching industrial volume production in 2021.