Energia
Azelio Sets up Commercial Project in Zambia
Financial terms for this initial project and following projects have yet to be determined. Azelio will receive some revenue from the initial project but the MoU is, as the second commercial statement of intent, primarily of strategic importance.
ND Power, using Nordic technologies, provides modern and well tested energy solutions to its customers in the Southern African region, such as businesses, industries, agricultures and communities. The company specifically focuses on the provision of reliable off- and on-grid solutions, for electricity and/or hot water, based on hybrids of solar PV, solar thermal, biomass and energy storage. With a subsidiary in Zambia , ND Power has the right network and understanding of the local energy situation to properly navigate the market in the region.
Both Azelio and ND Power wish to establish and extend their business offering in the African market, with the goal for ND Power to become one of Azelio's local sales, installation, operation and maintenance partners. In total, the MoU between Azelio and ND Power covers a capacity of about 7.55 MWe of Azelio's energy storage, to be deployed in the African market between 2021 and 2023.
says Azelio's CEO Jonas Eklind .
says ND Power's CEO Pär Oscarsson.
For further information, please contact
About Azelio
Azelio is a public Swedish company, specializing in thermal energy storage with dispatchable Stirling-based electricity production when and where it is needed, modular and to a low cost. The technology is revolutionary for its unique ability to store thermal energy for production of electricity at nominal effect for 13h. The company has well over 100 employees, headquartered in
Gothenburg with production facilities in Uddevalla and development centres in
Gothenburg and Åmål in
Sweden , as well as international presence in China ,
Spain and Morocco . Since the start in 2008, the company has invested over
one billion SEK in technical development. In
June 2018 , the company changed its name from Cleanergy to Azelio and in
December 2018 the company was listed on Nasdaq Stockholm First North. FNCA Sweden AB, +46(0)8-528 00 399, info@fnca.se, is Certified Adviser.
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