Collaboration of long-term production of energy storage solution

Azelio and AQ Enclosure Systems have therefore signed a letter of intent expressing their common desire to develop and produce Azelio’s energy-storage solution as a close long-term collaborative effort. The aim is for AQ Enclosure Systems to become a full-scale production partner offering the purchasing, assembly and logistics services associated with Azelio’s complete systems.

AQ Enclosure Systems is part of AQ Group, a leading global player in subcontracting and assembly, which offers the flexibility required for Azelio to achieve volume production in a short space of time. AQ Enclosure Systems has established a presence in various international markets, which would be an advantage for Azelio’s potential customers. AQ Group is listed on Nasdaq Stockholm.

“AQ Enclosure Systems is a well-established and valuable production partner which, on account of its flexibility and global presence, can ensure the high volumes and top quality required for the long-term production of Azelio’s energy-storage systems,” said Jonas Eklind, CEO, Azelio. “This collaboration represents an important interim goal that is significant in ensuring that Azelio achieves volume production in 2021.”

Jonas Pellgaard, Managing Director, AQ Enclosure Systems, added: “We are very pleased to be part of Azelio’s journey towards the commercialisation of its energy-storage solution for the production of sustainable and dispatchable electricity. AQ Enclosure Systems has the experience and resources required to ensure that Azelio’s product reaches the market quickly.”

Azelio’s first energy-storage units will be assembled in the fourth quarter of 2019 for delivery to Morocco where Azelio’s verification project is due for completion by the end of the year. The aim of the verification project is to create data for Azelio’s industrialised technology, which can serve as a basis for customers’ investment decisions.