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CSP expert Cleanergy changes name as Azelio and raises USD 11.5m

Sweden-based solar thermal power specialist Cleanergy AB said today it has concluded a “substantially oversubscribed” private placement of SEK 100 million (USD 11.5m/EUR 9.8m) and also announced the change of its name.

From now on the company will be known as Azelio. CEO Jonas Eklind commented that the new name distinguishes the firm on the global market and helps it with its international establishment plan.

The company has developed a Stirling concentrated solar power (CSP) system with thermal energy storage (TES). Last month it announced a partnership with the Moroccan Agency for Sustainable Energy (Masen), which will be funding a “substantial part” of the Swedish firm’s research and development (R&D) work in the field.

Azelio has now raised a further SEK 100 million, thus taking the total amount secured since its inception to above SEK 1 billion. The latest capital hike comes before a planned listing on the stock exchange, the company noted.

Cleanergy CSP park in Dubai. Source: Cleanergy AB

(SEK 10 = USD 1.149/EUR 0.975)

Source: renewablesnow.com

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