Strohm Holding BV, a Dutch leader in composite pipe technology, has raised EUR 30 million (USD 32.1 million) in a recent funding round aimed at expanding its manufacturing capabilities.
The investment, led by private equity firm SENCO Hydrogen Capital with EUR 20 million, marks a strategic move to meet growing demands in both traditional offshore sectors and emerging applications in offshore hydrogen and carbon capture projects.
Founded in 2007, Strohm specializes in thermoplastic composite pipes (TCP) used for subsea flowlines and jumpers. With a manufacturing site in IJmuiden, Netherlands, and offices in the USA and Brazil, the company counts Chevron Technology Ventures, Evonik Venture Capital, ING Corporate Investments, and Shell Ventures among its backers.
The funding infusion will bolster Strohm's capacity to support its growth trajectory, particularly in advancing technologies crucial for the energy transition, such as hydrogen and carbon capture utilization and storage (CCUS) applications.
