In 2019, Axel Johnson took its first steps into the solar market, through investments in Alight and Otovo. These were followed up with additional investments during 2020 and 2021. The aim is, through continued investments in leading Nordic companies with European ambitions, to build a business that in the long term can become a significant part of Axel Johnson.
Since 2010 solar has grown faster than any other type of energy. The frameworks set by the global climate targets have been important. But far more important is the fundamental change in economic conditions for solar, which today is a competitive energy alternative for both companies and households.
Johan Bergström, CEO of AxSol:
“Solar energy is a very fast-growing sector characterized by entrepreneurship and innovation. Market players are developing an economically competitive and environmentally friendly energy source in various ways, and are important drivers in addressing global warming. AxSol’s companies are strongly positioned for growth in the European market, which is facing very exciting developments in the coming years.”
The goal is to contribute as an active owner to the companies’ growth and European expansion, and to consider further investments in the segment. In addition to the strong long-term growth prospects, investments in solar energy companies also are a good value fit for Axel Johnson:
“In order to meet the climate goals, a number of changes must be made, but if one change is to be emphasized, the transition to fossil-free energy production is the most important. For a company such as Axel Johnson, which has long emphasized the company’s responsibility to have a positive impact on society, it is of course fantastic fun to join and build companies that contribute to that change”, says Johan Bergström.