Energia
Azelio Sets up Commercial Project in Sub-Saharan Africa
Both parties' intention is for STELLA Futura to become one of Azelio's sales, installation and O&M partners in the Sub-Saharan African region. STELLA Futura is an independent energy solution provider that partners with state-of-the-art storage technology solution providers to design, source and install complete reliable and safe solar powered energy solutions (on- or off-grid) for their customer pipeline in Sub-Saharan Africa. STELLA Futura is interested in Azelio's technology for long storage hours applications. Azelio's aluminum-based storage dispatches electricity when needed around the clock. Fully charged, the storage system produces electricity for 13 hours at nominal power.
STELLA Futura has several projects in pipeline between 2021 and 2023 where Azelio's technology can be used. The forecasted power of these projects is 6.5 MWe with a storage capacity of 85 MWhe.
says Azelio's CEO Jonas Eklind .
says STELLA Futura's Group CEO Ulrika Tornerefelt .
The signing of the MoU took place today, October 9 , under the presence of Magnus Rehle, Board Member at the Sweden-Sub Saharan Africa Chamber of Commerce (SSACC) in Stockholm .
says Magnus Rehle.
The parties will negotiate final commercial terms after having chosen project sites.
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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https://news.cision.com/azelio/r/azelio-sets-up-commercial-project-in-sub-saharan-africa,c2928972
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