SENCO Hydrogen Capital, a private equity firm specializing in investments in hydrogen and energy-in-transition spaces, announced a € 20 million investment in Strohm, an international manufacturer of innovative pipeline technology.
The investment aims to accelerate Strohm’s growth in hydrogen and carbon capture, utilization, and storage (CCUS) applications. Additionally, the partnership seeks to minimize the carbon footprint of pipeline infrastructure for conventional energy, thereby advancing more sustainable energy supply solutions overall.
SENCO released a press release informing that this investment, made shortly after the first closing of SENCO’s Hydrogen Equity Fund, marks a milestone for both companies and underlines their commitment to a more sustainable and future-proofed energy supply.
Carsten Schmeding, CEO and Managing Partner of SENCO said, “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.”
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Bernhard Mohr, Chairman of Strohm’s Supervisory Board and Managing Director of EVONIK Venture Capital, added, “We look forward to working with SENCO as a shareholder in Strohm to develop innovative solutions to shape a sustainable future and address the challenges of our time.”
As the primary investor in a €30 million capital increase, which saw participation from existing shareholders, SENCO joins as a strategic partner enhancing shareholder value.
Notable shareholders already in the group include Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments, and Shell Ventures.