Axon, a leading investment and consulting firm focused on identifying and optimising opportunities in technology and innovation, has completed the purchase of a 5.33% equity stake in the Italian company ErreDue, a pioneer in the development, design and production of on-site hydrogen, nitrogen and oxygen generators.
Axon acted as the leading investor in the company’s IPO in December this year, becoming the company’s largest institutional investor. Committed to driving sustainable economic growth through investing in new and better technologies that cultivate positive social and environmental outcomes, Axon’s expertise and track record will be vital to the company’s growth in the coming years.
Founded in 2000 by a group of experts in gas generation and engineering, ErreDue designs manufactures and markets highly innovative and customised solutions for the production, blending and on-site purification of technical gases (hydrogen produced by electrolysis of water, nitrogen, oxygen), intended for use in small, medium and large-scale laboratories, medical applications and applications related to energy transition (such as power-to-gas, hydrogen-powered transport and industrial decarbonisation).
We are pleased to close on this investment through our crossover fund ISETEC in ErreDue, an exciting and innovative company. The use of hydrogen will grow steadily over the next thirty years, with a particular focus on the generation of electrolytic hydrogen. “Electrolytic hydrogen produced using energy from renewable sources (green hydrogen) is considered the only fully sustainable energy carrier, as it is made with zero emissions. ErreDue can already produce modular electrolysers that can be combined in plants from 1MW to 5MW for the production of green hydrogen. Given this trend, a company like ErreDue, with strong organic growth and solid profitability, is well-positioned to become one of the key players in green hydrogen generation in the future.Juan Jimenez, Partner at Axon
ErreDue is a pioneer in the production of electrolytic hydrogen generators (alkaline and PEM), thanks to its in-house research laboratory and collaboration with public and private entities operating in the scientific and technological research sector (in particular ENEA, of which ErreDue has been a privileged partner for hydrogen research since 2006, as well as other bodies such as the CNR and the University of Pisa).