Cleanergy raises SEK 100M from private investors, changes its name to Azelio

Azelio, a Gothenburg, Sweden company specialized in Stirling engine-based renewable energy systems, announced it secured an oversubscribed private placement of SEK 100M and is planning for a listing on the Stockholm stock exchange.

The name of the investors remains undisclosed.

At the same time, Azelio announced chainging its name from Cleanergy in its focus to accelerate the commercialization of its solar energy technology. Azelio can offer distributed electricity at a low cost at all hours of the day, thanks to its unique storage solution.

Azelius, founded in 2006 and led by CEO Jonas Eklind, is specialized in the supply of Stirling engine-based renewable energy solutions. 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.

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.

Since inception the company has raised to more than one billion SEK.