Azelio has taken an energy storage system into operation at Haneberg Farm in Sweden. The system is powered by solar panels and utilizes both electricity and heat generated by the system to dry grain.

"This is an important milestone for Azelio since it is the first time a project also uses the heat generated by Azelio's energy storage system. We see many applications for the heat, both in the agricultural sector and in other areas. Haneberg will serve as springboard for continued development of this part of the system," says CEO Jonas Wallmander.

Group financial development

•         Net sales amounted to kSEK 226 (629)

•         Operating profit/loss amounted to kSEK -136,586 (-99,938) after depreciation and amortisation of kSEK -42,578 (-33,419)

•         Earnings per share before and after dilution totalled SEK-1.19 (-0.87)

•         Profit/loss for the period amounted to kSEK -137,499 (-100,289)

•         Cash flow for the period amounted to kSEK -140,768 (-117,010)

On June 9, Azelio announced that the company had decided to transform the organization and in connection with this,  gave notice to the Swedish Public Employment Service regarding 100 employees. Negotiations with the trade unions on the notice have now been completed with the result that the number of employees is reduced by 55 persons through a combination of layoffs and people who leave at their own request without being replaced.

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.