Aurelia Turbines appoints Swedbank as lead advisor to explore financing options

Aurelia Turbines Oy has appointed Swedbank AB (publ) as their lead financial advisor to explore different financing options, including the possibility for an Initial Public Offering (IPO) by listing the Company's shares on Nasdaq Helsinki First North.

Aurelia Turbines has reached significant technological milestones since starting the development of its highly innovative gas turbine, the Aurelia®A400, in 2013. Aurelia’s systems, which incorporate a low emission combustion process, are now able to use hydrogen-rich fuels in addition to biogas, synthetic gas as well as other renewable and non-standard fuels. Aurelia's gas turbines provide clients with the flexibility needed to balance changes in renewable energy generation.

The Aurelia®A400 turbine is ideally suited for small-scale combined heat and power (CHP) generation in decentralised grids across the world: it has been designed to meet the needs of small- and medium-sized industrial processes. These 400 kWe turbines may be up to 20 % more energy efficient than other microturbines of the same size currently on the market.

“Exploring further financing options will help us to meet the fast-growing demand for gas turbines using hydrogen-rich fuels. Our mission is to become a global leader in small gas turbines for the hydrogen economy. Driven by the growing production of renewable energy, there is an increasing demand for innovative energy solutions around the world”, says Matti Malkamäki, the CEO of Aurelia Turbines.

This year Aurelia Turbines is to start full serial production of Aurelia®A400 turbines. Aurelia Turbines will deliver the turbines with its global partners, who install the final product in their respective markets while meeting the local requirements.

For further information:

Matti Malkamäki, CEO, Aurelia Turbines Oy

Mika Karikoski, Head of Corporate Finance Finland, Swedbank AB (publ)