Dutch-based Strohm secures €30M to reduce carbon footprint in pipeline infrastructure

Netherlands-based Strohm, a company specialising in developing and manufacturing pipelines for conventional and renewable energy sectors, has secured €30M in equity funding led by SENCO, a hydrogen-focused investment firm in Germany.

The round also saw participation from existing shareholders, including Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments, and Shell Ventures.

SENCO joins as a “value-adding partner”

Following the first closing of SENCO’s Hydrogen Equity Fund, this investment in Strohm signifies a milestone for both companies, aiming to reduce the carbon footprint in pipeline infrastructure for conventional energies, and promoting more sustainable energy supply solutions.

Carsten Schmeding, CEO and Managing Partner of SENCO, says, “With this investment, we are supporting innovative, carbon footprint-reducing technologies that are critical to the success of the hydrogen economy and renewable energies.”

“We identified Strohm in 2023 as a market leader in the development of thermoplastic composite pipelines (TCP), an innovative, sustainable and value-adding contribution to the growing global offshore energy industry.”

“We look forward to actively supporting the company’s future growth, together with its management and professional investor base.”

Oliver Kolbe, Managing Partner of SENCO, adds, “We are currently seeing a large number of growth-oriented companies that are making important contributions to the success of the energy transition.”

“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.”

Capital utilisation

The funding aims to accelerate Strohm’s growth trajectory, particularly in hydrogen and carbon capture, utilisation, and storage (CCUS) applications.

Martin van Onna, CEO of Strohm, says, “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.”

Strohm: Everything you need to know

Founded in 1995 by two aerospace engineers in the Netherlands, Airborne International built a reputation as a high-end composite design and build company. Its goal was to leverage aerospace expertise in design, materials, and automated production for other industries. 

The company produces “high-end products” for the space, aerospace, and other sectors.

In 1999, Shell approached Airborne to develop superior “Composite Coiled Tubing”. Sponsored by Shell, Airborne created the Thermoplastic Composite Pipe (TCP) using a single polymer in the liner, composite matrix, and coating. This led to the creation of a strong yet flexible pipe for harsh environments, marking the birth of TCP.

In 2012, Airborne built a full-scale TCP production site in IJmuiden (Port of Amsterdam). Two years later, the company became independent as Airborne Oil & Gas and rebranded to Strohm in October 2020.