Brief: Azelio Provides Business Update

Azelio AB

01/06/2020 07:04

June 1 (Reuters) - Azelio AB  AZELIO.ST :
    * AZELIO BUSINESS UPDATE - CONTINUED PROGRESS AND INCREASED
CAPITAL REQUIREMENTS DUE TO COVID-19
    * INVESTMENTS RELATED TO START OF PRODUCTION HAVE BEEN MOVED
FORWARD, WHICH IS WHY COMPANY IS NOW FINANCED UNTIL DECEMBER
2020 (EARLIER SEPTEMBER 2020)
    * THREE MONTHS' DELAY IS ALSO EXPECTED TO BE VALID UNTIL
AZELIO
REACHES POSITIVE CASHFLOW, LEADING TO AN INCREASED FUNDING NEED
OF APPROXIMATELY SEK 75 MILLION.
    * REMAINING FINANCING NEEDS ARE NOW ESTIMATED TO BE SEK 375
MILLION COMPARED TO PREVIOUSLY STATED SEK 300 MILLION
    * EXPECTS FIRST COMMERCIAL INSTALLATION IN Q4 2020 AND START
OF
SERIAL PRODUCTION IN Q3 2021

Source text for Eikon:  ID:nWkr68QR6r 
Further company coverage:  AZELIO.ST 

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