Strohm Secures €30M Funding to Advance Sustainable Pipeline Solutions

Netherlands-based Strohm, a leading company in the development and manufacturing of pipelines for both conventional and renewable energy sectors, has successfully raised €30M in equity funding. The funding round was spearheaded by Germany's hydrogen-focused investment firm SENCO and saw participation from existing shareholders such as Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments, and Shell Ventures.

The first closing of SENCO's Hydrogen Equity Fund marks a significant milestone with its investment in Strohm. This move is aimed at reducing the carbon footprint associated with pipeline infrastructure in conventional energies while promoting sustainable energy solutions. Carsten Schmeding, CEO and Managing Partner of SENCO, emphasized the importance of this investment, stating, “With this investment, we are supporting innovative, carbon footprint-reducing technologies that are critical to the success of the hydrogen economy and renewable energies.” Schmeding also highlighted Strohm's leadership in the market for thermoplastic composite pipelines (TCP), describing them as “an innovative, sustainable and value-adding contribution to the growing global offshore energy industry.”

SENCO's commitment to supporting Strohm's future growth is clear. Oliver Kolbe, Managing Partner of SENCO, noted the attractiveness of growth-oriented companies that contribute significantly to the energy transition. He stated, “These companies are highly attractive from an investment perspective, largely irrespective of interest rate developments and the macroeconomic framework data. Strohm is a perfect example of this.”

The newly secured funds are intended to accelerate Strohm's growth, particularly in the fields of hydrogen and carbon capture, utilization, and storage (CCUS). Strohm's CEO, Martin van Onna, expressed enthusiasm about the partnership with SENCO, stating, “The partnership with SENCO enables us to further scale our technologies and continue our successful expansion, especially in the field of energy transformation around hydrogen and CCUS.”

Background on Strohm

Founded in 1995 by two aerospace engineers in the Netherlands, Airborne International initially built its reputation as a high-end composite design and manufacturing company. The company aimed to leverage aerospace expertise in design, materials, and automated production for various industries, including space and aerospace sectors. In 1999, Shell approached Airborne to develop superior “Composite Coiled Tubing”. This collaboration led to the creation of the Thermoplastic Composite Pipe (TCP), a strong yet flexible pipe designed to withstand harsh environments. This marked the beginning of TCP's journey.

By 2012, Airborne had established a full-scale TCP production site in IJmuiden (Port of Amsterdam). Two years later, the company rebranded as Airborne Oil & Gas and eventually became independent. In October 2020, it underwent another rebranding to become Strohm.

Strohm's innovative TCP technology has been instrumental in advancing pipeline solutions for both conventional and renewable energy sectors. The company's focus on sustainability and reducing carbon footprints aligns with global energy transition goals. The recent €30M funding will not only support Strohm's growth in hydrogen and CCUS applications but also enhance its capabilities in delivering sustainable energy infrastructure solutions.

SENCO's investment underscores the importance of supporting technologies that contribute to a greener future. As the energy landscape continues to evolve, investments in companies like Strohm will play a crucial role in shaping sustainable energy solutions and driving the success of the energy transition. The collaboration between Strohm and SENCO exemplifies the strategic partnerships necessary to advance innovative technologies that reduce carbon footprints and promote renewable energies.