Azelio AB (publ)
AZLOF
Other OTC0.03
USD
-0.01
- -
Return %
Stock
S&P500
1Y
-97.00
17.85
3Y
-99.30
64.56
5Y
-99.30
69.89
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Jonas Wallmander
- Full Time Employees
- 134
- Sector
- Utilities
- Industry
- Renewable Utilities
- Address
- Lindholmsplatsen 1 Gothenburg Sweden 417 56
- IPO Date
- Nov 9, 2020
- Website
- azelio.com
- Similar Companies
- Business
- Azelio AB (publ) (AZLOF) develops and supplies Stirling engine-based renewable energy storage solutions, focusing on thermal energy storage systems that provide dispatchable electricity and heat. The company's core product is TES.POD, a long-duration thermal energy storage platform charged by renewable sources such as solar PV or wind, delivering up to 13 hours of nominal power output with zero emissions; it targets installations from 100 kW to 100 MW for microgrids, off-grid applications, distributed baseload, and load shifting in industrial, commercial, and community settings. Azelio operates primarily in the renewable energy equipment manufacturing sector, with a global focus on sunbelt regions including Europe, the Middle East, North Africa, the United States, and South Africa. Founded in 2006 and headquartered in Gothenburg, Sweden, the company leverages advanced Stirling engine technology combined with innovative thermal storage to enable 24/7 renewable power without reliance on batteries. Production facilities were located in western Sweden's automotive and aerospace clusters, supporting scalability for smaller to mid-sized energy projects lacking cost-effective sustainable alternatives. In recent major developments, Azelio filed for bankruptcy in July 2023 following delays in commercialization and failure to secure sufficient financing or a strategic partnership, leading to full liquidation; the bankruptcy process, managed to maximize creditor returns amid a 200 million SEK shortfall, neared completion in 2024 with assets including Stirling engine technologies acquired by TEXEL Energy AB on October 16, 2024. Prior to bankruptcy, Azelio pursued serial production starting in 2021, signed memorandums of understanding totaling 426 MW/5.4 GWh capacity, secured initial commercial orders in Dubai, Sweden, the United States, South Africa, and Egypt, and formed collaborations such as with MMR Constructors and Svea Solar, though these did not achieve positive cash flow. The company delisted from Nasdaq Nordic, rendering AZLOF inactive, as shareholders received no returns.