Cleantech company Azelio plummets on delay to delivery targets
17/01/2023 08:33
** Shares in Azelio AZELIO.ST plummet 36.5% after the
Swedish cleantech company said it would not reach its delivery
target for 2023
** The company stated that the time it takes to convert
ongoing business discussions into signed agreements is still
longer than anticipated
** As a result, sales and commercialisation are delayed, and
several of Azelio's previously planned deliveries for 2023 are
unlikely to be delivered until 2024
** The company said its board and management are working on
securing additional financing from debt and/or equity investors
** Azelio shares are trading at SEK 0.912
** The share is on track for its worst day since Feb. 21
($1 = 10.4296 Swedish crowns)
(Reporting by Louise Breusch Rasmussen)
((Louisebreusch.rasmussen@tr.com))