Hydrogen Pipeline Maker Strohm B.V. Raises €30M to Accelerate Growth for Energy Transition
We are excited to announce that Netherlands-based Strohm B.V., an Award-Winner at last year’s Tech Tour European Hydrogen Transport Dialogue and featured on the 2024 Tech Tour Growth 50 list, has successfully raised €30 million in new funding to fuel its next phase of growth. The capital raise, led by SENCO Hydrogen Capital with a €20 million investment, marks a significant milestone for Strohm as it continues to scale its innovative Thermoplastic Composite Pipe (TCP) solutions for both conventional and renewable energy sectors.
Strohm B.V.: Pioneering Sustainable Pipeline Technology
Strohm, a leading Dutch company known for its pioneering work in thermoplastic composite pipelines (TCP), is at the forefront of developing innovative solutions for both conventional and renewable energy sectors. With a strong focus on hydrogen and carbon capture utilization and storage (CCUS) applications, Strohm is dedicated to reducing the carbon footprint in pipeline infrastructure, making energy supply solutions more sustainable.
SENCO Hydrogen Capital’s Strategic Investment
The investment from SENCO Hydrogen Capital, a private equity firm specializing in the hydrogen and energy-in-transition sectors, is a testament to Strohm’s leadership in this critical field. SENCO’s €20 million equity infusion is part of a larger €30 million capital increase, which also saw participation from Strohm’s existing shareholders, including industry giants like Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments, and Shell Ventures.
Driving Growth in Hydrogen and CCUS Technologies
This strategic partnership will not only accelerate Strohm’s growth trajectory, but also enhance its ability to scale its innovative technologies, particularly in the hydrogen and CCUS domains. As the energy sector continues to evolve, investments like these are crucial in driving forward the development of low-carbon solutions and supporting the global push toward a sustainable energy future.
Leadership Perspectives on the Partnership
Carsten Schmeding, CEO and Managing Partner of SENCO, expressed the importance of this investment:
“With this investment, we are supporting innovative, carbon footprint-reducing technologies that are critical to the success of the hydrogen economy and renewable energies. Strohm is a market leader in TCP development, and we look forward to actively supporting the company’s future growth.”
Strohm’s CEO, Martin van Onna, echoed this sentiment, highlighting the impact of the partnership:
“The collaboration with SENCO enables us to further scale our technologies and continue our successful expansion in energy transformation, particularly around hydrogen and CCUS.”
“We knew that TechTour would be a very valuable platform for Strohm to meet the right growth investors for the next stage in the company. Therefore, we suggested to the CEO to join and, bingo, his new lead investor Senco saw him first at a TechTour event and was immediately impressed,” said Falk Müller-Veerse, Partner & co-Head of Climate Tech at Bryan, Garnier & Co who supported the deal.
Looking Ahead to the Future of Sustainable Energy Solutions
As we celebrate Strohm’s continued success and its contribution to the energy transition, we invite our Tech Tour community to stay tuned for more updates on this exciting journey. To meet more fascinating companies in the hydrogen transport sector, don’t miss out the upcoming Tech Tour European Hydrogen Transport Dialogue this December 4-5 in Nuremberg, Germany.
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