Azelio AB (publ) has carried out a primary issuance of shares of SEK 596 million at a subscription price of SEK 56 per share. The subscription price was determined through an accelerated bookbuilding procedure.

Azelio specializes in energy storage with electricity and heat production. The technology is revolutionary in that the energy becomes dispatchable, making renewable energy available around the clock. The energy is stored in recycled aluminium from which it is converted into electricity and heat with a total efficiency of up to 90 percent. The solution is scalable, sustainable, and cost-efficient from 0.1 MW up to 100 MW. Azelio has approx. 160 employees with headquarters in Gothenburg, production in Uddevalla and development centres in Gothenburg and Åmål, as well as presence in Stockholm, Beijing, Madrid and Ouarzazate.

Carnegie, Pareto Securities and Bryan, Garnier & Co acted as Joint Bookrunners. Baker McKenzie acted as legal advisor to the Joint Bookrunners as to Swedish and American law. Henric Roth and Marlene Wiklund from Baker McKenzie's Capital Markets team in Stockholm were involved in the transaction, as well as Charles Farnsworth from the corresponding team in London.

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