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Azelio Q4’22: Financing in Focus - Redeye

Redeye comments on Azelio’s year-end report, which puts future financing in the spotlight. The underlying need for energy storage continues to be strong and the project pipeline is progressing but the time to reach firm deals has taken longer than expected. Azelio now highlights an imminent need for SEK150-300m until Q2’23 and evaluates several alternatives, including a rights issue. With a delayed project ramp-up and a larger than previously expected financing need, we expect to reduce our valuation range.

Redeye comments on Azelio’s year-end report, which puts future financing in the spotlight. The underlying need for energy storage continues to be strong and the project pipeline is progressing but the time to reach firm deals has taken longer than expected. Azelio now highlights an imminent need for SEK150-300m until Q2’23 and evaluates several alternatives, including a rights issue. With a delayed project ramp-up and a larger than previously expected financing need, we expect to reduce our valuation range.
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