Presentation

Azelio has developed a thermal energy storage unit and Stirling engine technology, marketed as a combined unit called TES.POD, which is able to store energy from solar and wind power and then make it available as electricity and heat around the clock. The company was listed in Stockholm in 2018.

Azelio’s TES.POD stores energy in the form of heat in an aluminium storage unit. Heat is then taken from the storage facility on demand and delivers heat and electricity via a Stirling engine at all hours of the day at a competitive cost with an efficiency up to 90% (for the Stirling engine). The storage system itself has a capacity of 13 hours of electricity production at nominal power, with a longer duration when adjusting output towards lower demand. It can also deliver heat in the 55-65°C range.

The company recently announced that preparation for production-start in September is going according to plan. The production ramp-up has been underpinned by a large number of MoUs signed in recent years with partners in various geographical markets. Most recently, Azelio announced over the summer an MOU with US-based MMR Constructors with the intention to develop projects combining energy storage with solar PV. The collaboration starts with a small-scale installation in 2022, with an aim to reach an installed capacity of 250 MWh by 2027. In terms of commercial orders, Azelio announced in August a conditional order of 20 TES.POD units valued at approximately USD 1.5m, being conditional on “the ongoing techo-economic feasibility study” for the specific project.