General – Fundraising
HydrogenOne Capital Growth is making an investment of EUR 10m in Strohm Holding from the Netherlands.
HydrogenOne is investing alongside Strohm’s existing investors Shell Ventures, Chevron Technology Ventures and Evonik Venture Capital, in the first close of a funding round totalling EUR 14m.
HydrogenOne may also invest up to a further EUR 2m in the second close of this funding round, which is anticipated to be at least EUR 6m in aggregate in addition, expected later in 2022.
Following the investment in Strohm, HydrogenOne will have the right to a board seat.
Strohm is a private supply chain company, focused on the offshore wind-to-hydrogen sector and supporting a reliable, faster and cheaper green energy transition around the world. The company is developing safe and dependable pipeline solutions, whereby green hydrogen generated at offshore wind turbines can be transported to shore via Strohm’s subsea pipe infrastructure.
This fundraising is expected to enable Strohm to scale up its plant capacity in the Netherlands and deliver on its energy transition agenda as it continues to support clients towards net-zero goals with its durable, lightweight and 100% recyclable pipe solution, proven to reduce the CO2 footprint of pipeline infrastructures by up to 60%.
