Strohm Holding, a portfolio company of clean hydrogen investment fund HydrogenOne Capital Growth, has secured €30m in a fundraising round led by Senco Hydrogen Capital.
Senco, a private equity firm specialising in investments in the hydrogen and energy-in-transition sectors, participated in the fundraising with a €20m contribution alongside commitments from new and existing shareholders. Strohm also received €1.2bn from London-listed HydrogenOne.
Thermoplastic composite pipe (TCP) producer Strohm will use the new funding to ramp up production and expand its manufacturing capacity, serving both existing offshore clients and the growing demand for TCP solutions in offshore hydrogen and carbon capture projects.
JJ Traynor, managing partner of HydrogenOne Capital LLP, the company’s investment adviser, said: “Strohm is a pioneer in the development of TCP, and this newly secured investment will further enable Strohm’s management team to continue to scale up its manufacturing operations.
“Strohm’s technology addresses the significant need to reduce CO2 emissions in the pipeline infrastructure sector.”
Bernhard Mohr, chairman of the supervisory board of Strohm and managing director of Evonik Venture Capital, said: “With the value-adding and outstanding expertise of the Senco team in the field of energy transformation investments, we are strengthening Strohm’s position as an innovator and pioneer in the development of TCP.”
To read the latest IPE Real Assets magazine click here.
