Trading in Azelio’s share on Nasdaq First North commences today

Trading in Azelio’s share on Nasdaq First North commences today

Azelio AB (publ) (”Azelio” or the ”Company”), announces that the trading in the Company’s share on Nasdaq First North commences today under the short name “AZELIO” with ISIN SE0011973940. Prior to the listing, Azelio has completed a share issue that provided the Company with approximately 2,200 new shareholders and minimum proceeds of SEK 242 million before transaction expenses (the “Offering”). The proceeds will primarily be used to finance the continued industrialization of the Company’s system of Stirling engine-based concentrated solar power with thermal energy storage that enables electricity production around the clock.

Advisors

Pareto Securities acted as Sole Global Coordinator and Bookrunner, Vinge acted as legal advisor to Azelio and Pareto Securities in connection with the Offering.
Azelio is a technology company that offers a system of Stirling engine-based concentrated solar power with thermal energy storage that enables electricity production around the clock. The Company has its head office in Gothenburg, Sweden, with production in Uddevalla and a development center in Gothenburg and Åmål, as well as a sales office in Beijing, China and a representative office in Madrid, Spain. As of September 30, 2018, the Company had 75 employees.

Azelio’s technology and development

The Company’s Stirling engine is commercially applied, having accumulated over two million operating hours and 172 installations globally, while the subsystem for thermal energy storage has been validated in demonstration plant in June 2018, but has not yet been commercially applied. Over the period 2018–2020 the Company will focus on the industrialization of the system’s design, construction and production. In the fourth quarter 2019 three systems in a verification project will be installed in Morocco jointly with the state-controlled Masen. From 2020 onwards, another 8–16 systems are expected to be installed in commercial projects, with volume production expected from 2021.

Azelio’s market and customers

The technology is well suited for areas that today lack access to a power grid or have no reliable power grids. The Company assesses that Azelio’s solution can be used to accelerate the rollout of electricity to the approximately one billion people around the sun belt who currently have no access to reliable electricity. The Company intends to sell its system to EPC-contractors which then install the system for the end customer. Future end customers may for instance be energy-intensive customers such as mining industry, cement industry and process industry.

Certified Adviser

FNCA Sweden AB is chosen to be Certified Adviser for Azelio.

Stabilization measures

In connection with the Offering, Pareto Securities may carry out transactions in order to maintain the price of the Company’s shares at a level higher than the level that would otherwise prevail on the market. These stabilization measures, which aim to support the market price of the shares, may be conducted on Nasdaq First North, the OTC market or in other ways, and may be conducted at any time during the period starting on the first day of trading in the shares on Nasdaq First North and ending 30 calendar days thereafter. Under no circumstances will transactions be carried out at a price higher than the price in the Offering. Pareto Securities and its agents are not required to take any of these measures and it can therefore not be guarantee that any stabilization measures will be taken. If stabilization measures are taken, Pareto Securities or its agents can terminate them at any time. Except for what is required by law or other regulation, Pareto Securities does not intend to disclose the extent of any stabilization measures.

2018-12-11T08:39:47+00:0011-12-2018|Categories: BREAKING NEWS, NEWS, Sin categoría, Top News|Tags: , , |