AZELIO: New press article raises concerns on Azelio’s capacity to deploy its technology | NEUTRAL | SEK8 VS. SEK23.4 (-6%)
AZELIO - NEUTRAL | SEK8 VS. SEK23.4 (-6%)New press article raises concerns on Azelio’s capacity to deploy its technology
We cut our TP from SEK23.40 to SEK8.0 and confirm our Hold rating on the back of uncertainties related to Azelio’s technology. Dagens Industri (Swedish financial newspaper) released another article raising concerns on Azelio’s ability to be competitive on the storage market. The article bases its argumentation on several experts views which mention an ongoing tougher competitive landscape.
Azelio AB, formerly Cleanergy AB, is a Sweden-based company engaged in the renewable power sector. The Company operates as a supplier of Stirling engine-based renewable energy solutions for conversion of solar energy into electricity and heat. The Company operates production, where concentrated solar power (CSP) is stored as heat (thermal energy storage - TES) and distributed as clean electricity on demand. The Company's primary markets are Middle East and North Africa, as well as China.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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