Azelio AB was a Swedish Greentech company focused on developing and commercializing long-duration thermal energy storage (TES) systems combined with a Stirling engine for dispatchable, clean electricity and heat production. Their technology aimed to provide renewable energy access 24/7, particularly for off-grid and weak-grid applications. Energy was stored in recycled aluminum. In July 2023, Azelio AB filed for bankruptcy. Subsequently, its intellectual property and certain assets were acquired, notably by Stena AB, with the intention of further developing the core technology.
This facility served as the central hub for Azelio's global operations, encompassing R&D, engineering, corporate management, strategic partnerships, and commercialization efforts for its energy storage solutions.
The headquarters likely included advanced research and development labs, prototype testing areas for its Stirling engine and thermal storage units, alongside modern office spaces fostering innovation.
Azelio aimed to cultivate a work environment centered on innovation, sustainability, and collaborative problem-solving, driven by the mission to advance clean energy technology. The culture attracted individuals passionate about Greentech development.
The Gothenburg headquarters was pivotal as the origination point for Azelio's unique thermal energy storage technology and the command center for its global expansion and commercialization strategy.
Prior to its bankruptcy, Azelio managed its international activities from its Swedish base, including R&D, manufacturing, and corporate functions. The company had established a global footprint through strategic partnerships, sales representations, and project installations in key markets across Europe, the Middle East, North Africa, Australia, and the Americas. This network was essential for technology deployment, market development, and international collaborations.
Stora Åvägen 21
Gothenburg
Västra Götaland
Sweden
Address: Energi- och Miljöteknikparken, Industrigatan 10, 662 34 Åmål
Strategically chosen for its industrial capabilities, this location supported the scaled production of Azelio's renewable energy storage technology.
Address: Verification project site within Masdar City (Specific office address may vary)
To validate technology robustness, establish regional credibility, build partnerships, and explore market opportunities for sustainable energy solutions in the Middle East and North Africa.
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As of April 2025, Azelio' leadership includes:
Azelio has been backed by several prominent investors over the years, including:
In the period leading up to its bankruptcy in July 2023, Azelio experienced a key leadership transition with the appointment of an acting CEO. The subsequent bankruptcy filing resulted in the departure of the entire executive team as the company ceased its independent operations.
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During its operational period, Azelio commonly used the email format firstname.lastname@azelio.com for its employees and executives. Due to the company's bankruptcy, email addresses using this domain are highly unlikely to be active.
firstname.lastname@azelio.com
Format
jane.doe@azelio.com
Example
5%
Success rate
Stena Metall • September 26, 2023
Stena AB, through its subsidiary Stena Teknik, acquired the intellectual property, technology, and certain other assets related to Azelio's long-duration thermal energy storage system from the bankruptcy estate's buyer, Naas Hus AB. Stena intends to further develop the technology for industrial scale....more
Reuters • July 20, 2023
Swedish energy storage company Azelio AB filed for bankruptcy at the Gothenburg District Court after failing to secure necessary long-term financing to continue its operations and commercialize its thermal energy storage technology....more
Azelio Press Release • October 5, 2022
Azelio announced its thermal energy storage system at the Mohammed bin Rashid Al Maktoum Solar Park in Dubai had successfully completed over 13,000 hours of operation, demonstrating its technology's reliability in demanding desert conditions....more
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