GOTHENBURG, Sweden,
June 18, 2018 /PRNewswire/ --
Swedish solar company Azelio on June
14th launched a demonstrator of its unique technology for
solar energy storage. The technology is revolutionizing in its
ability to generate clean electricity on demand around-the clock in
a distributed way. It has modularity benefits and is more cost
efficient than competing technologies, including fossil
based.
Azelio's unique solution is based on Stirling Concentrated Solar
Power (CSP) with multi-hour Thermal Energy Storage (TES). It can be
built in a modular way from small to very large installations with
maintained low cost and high efficiency. The system is distributed
for local production and storage of heat, which can at any point be
withdrawn from the storage and converted into electricity for 24/7
capacity. The technology is well suited for areas with weak or
non-existent grids. It can thus be used to accelerate the roll-out
of electricity to the more than one billion people in the world
that lack that access as of today, enabling societal growth.
Since the greatest energy recovery is obtained in the conversion
phase, Azelio is using an aluminium alloy as a storage media for
its very specific phase changing characteristics. This storage
media does not need refilling to maintain its efficiency, as
opposed to common storage technologies using salt or water.
Azelio's main market focus is initially projects in the size of 500
kW to 20 MW, targeting a gap on the global energy market.
"Showcasing this technology is a great milestone for Azelio. We
have now proven that this world-unique solution works and together
with our partners we will continue the development and
commercialization. Low cost and clean electricity that is made
accessible on demand also in remote locations at all hours of the
day is really a game changer," says Jonas
Eklind, CEO of Azelio.
Azelio just secured a significantly oversubscribed private
placement of 100 MSEK and is planning for a listing on the
Stockholm stock exchange. In 2019,
a verification project will be built together with the strategic
partner, Masen (Moroccan Agency for Sustainable Energy) in
Morocco.
About Azelio
Azelio is a privately held Swedish high-tech SME specialized in
Stirling engine-based renewable energy systems, with a highly
efficient Concentrated Solar Power (CSP) solution with low cost and
modular multi-hour Thermal Energy Storage (TES). This technology is
revolutionizing for its unique ability to generate clean
electricity to a low cost, at all hours of the day. The company has
its headquarters in Gothenburg,
with 60+ employees and production facilities located in the heart
of the Nordic automotive and aerospace clusters in Uddevalla and an
engineering centre in Åmål and a sales office in Beijing. The Stirling engine is produced in a
state-of-the-art assembly line and the company has access to the
most advanced material suppliers and engineering centres of
excellence in Northern Europe.
Since inception the company has raised to more than one billion SEK. In June of 2018 the company
changed its name from Cleanergy to Azelio.
For more information, please contact::
Jonas Eklind,
CEO of Azelio
Tel: +46-709-40-35-80
Email: jonas.eklind@azelio.com
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/azelio/r/azelio-demonstrates-game-changing-technology-for-low-cost-solar-energy-storage,c2550737
The following files are available for download:
http://mb.cision.com/Main/16031/2550737/861977.pdf
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Presskit
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http://news.cision.com/azelio/e/https-www-youtube-com-watch-v-r7pwezxpyzi-,c2434668
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https://www.youtube.com/watch?v=r7PwEZXpYzI
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http://news.cision.com/azelio/i/azelio-the-solution-1,c2434666
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