Azelio Signs Conditional Order In Australia

Azelio AB (AZELIO.ST):

• SIGNS CONDITIONAL ORDER IN AUSTRALIA TO PROVIDE ENERGY-AS-A-SERVICE BASED ON FIVE TES.POD UNITS COMBINED WITH SOLAR POWER

• AGREEMENT COVERS 20 YEARS AND IS EXPECTED TO GENERATE A POSITIVE RETURN FOR SPV AND AZELIO

• FIRST YEAR'S REVENUE IS EXPECTED TO BE EUR 300,000 - 400,000.

• AGREEMENT, WHICH IS ESTIMATED TO REQUIRE INVESTMENTS OF EUR 3 - 4 MILLION, IS SUBJECT TO AZELIO ARRANGING FINANCING FOR SPV, WHICH IS EXPECTED TO BE FACILITATED BY SOLAR ELEMENT OF PROJECT

• DELIVERY OF ENERGY STORAGE SYSTEM, AND START OF OPERATION OF COMPLETE POWER SYSTEM, ARE EXPECTED IN 2024.

• PV PART OF SYSTEM IS EXPECTED TO BE INSTALLED AND IN OPERATION IN 2023