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Investment in Avoxt
The Groningen- and Eindhoven-based startup Avoxt has secured an investment from Future Tech Ventures, the NOM, and the Brabant Startup Fund to accelerate the further development and scaling of its revolutionary electrolyzer technology. This innovation enables hydrogen production to become more efficient, safer, and more affordable than ever before, marking a crucial step in the global energy transition. The investment was finalized on March 26 at the Future Tech Ventures office in Groningen. Previously, Avoxt had already received a Rabo Innovation Loan, bringing the total funding raised by the startup to over €1 million.
A gamechanger in hydrogen production
The world faces a massive challenge: drastically reducing CO2 emissions and breaking its dependence on fossil fuels. Hydrogen plays a key role in this transition, but its production is often inefficient and expensive. Avoxt provides a solution with an innovative electrolyzer that significantly increases hydrogen production efficiency. Avoxt initially started at HighTechXL, the Eindhoven-based venture builder focused on launching companies that develop and bring socially relevant innovations to market.
What truly sets Avoxt’s technology apart is that it develops membrane-free electrolyzers. Ton Rademaker, one of Avoxt’s founders, explains: “Traditional electrolyzers use a membrane to separate hydrogen and oxygen, but these membranes are expensive, prone to wear, and can cause failures. Avoxt eliminates this weak link by producing gases at separate locations within the system, eliminating risks such as leakage and explosions. This makes the technology not only safer but also cheaper and highly scalable.”
Additionally, the technology requires significantly less maintenance, increasing uptime and ensuring a faster return on investment.
Scaling Up
Future Tech Ventures (FTV) recognizes Avoxt’s potential and is committed to bringing this technology to the next level. Investment manager Kyra Weaver states: “Avoxt holds the key to radically improving hydrogen production. The disruptive potential of this technology is gaining attention. However, deep-tech like this requires significant investment to reach the commercial phase, and that’s why our mission is clear: we support Avoxt in becoming ‘investor ready’ for the next funding round. The combination of youthful enthusiasm and experienced entrepreneurship in this team lays the foundation for a strong and energetic collaboration.”
NOM is also enthusiastic about investing in Avoxt. Investment manager Alexander Draaijer adds: “Avoxt is working on a breakthrough technology in hydrogen electrolysis. NOM supports their journey in proving their concepts, ensuring more investors are convinced to join in.”
Gerard Spanbroek, Director of the Brabant Startup Fund, emphasizes: “Brabant Startup Fund was founded to help startups take the necessary steps in technology and market positioning to attract international investors. Avoxt is particularly interesting to us because it aligns with the Sustainable Development Goals (SDGs) and promises to accelerate the energy transition. That’s beneficial for Brabant, the Netherlands, and the world.”
“By 2030, 40% of all hydrogen used in the chemical industry must be green. This means there is a significant market for electrolyzers that keep production costs low because that green hydrogen must become a reality. And that’s exactly where Avoxt aims to make a major impact,” concludes Ton Rademaker.
