Strohm’s existing investors are Shell Ventures, Chevron Technology Ventures and Evonik Venture Capital. HydrogenOne may also invest up to a further £1.7 million (2 million euros) in the second close of the funding round.
Strohm is developing safe and dependable pipeline solutions so that green hydrogen generated at offshore wind turbines can be transported to shore via Strohm’s subsea pipe infrastructure. The company specialises in the design and manufacturing of Thermoplastic Composite Pipe (TCP) which is more cost effective than steel pipe and has around 50 percent less manufacturing greenhouse gas emissions. As TCP is a flexible pipe, it can be installed offshore easily and quickly, using the same methods as currently used for array cables. The technology can be used to safely transport hydrogen, CO2, ammonia and water, where steel solutions suffer from embrittlement and corrosion.
The 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 percent recyclable pipe solution, designed to reduce the CO2 footprint of pipeline infrastructures by up to 60 percent.
Over 9 gigawatts (GWs) of offshore green hydrogen projects have been proposed in the North Sea basin, with further multi-GWs growth potential, alongside Carbon Capture, Utilisation and Storage (CCUS), all of which will require specialist pipeline solutions at scale. Strohm has positioned itself to service the development of this offshore hydrogen and CCUS market.
“This is our ninth private investment since the launch of our clean hydrogen-focused fund and an excellent addition to our growing portfolio” said Simon Hogan, Chairman of HydrogenOne. “Strohm’s core commitment to a sustainable future, through reduction of the carbon footprint of pipelines around the globe and provision of solutions for clean hydrogen applications, is one we support. We look forward to working with Strohm’s management team as it scales up to meet the growing demand for hydrogen as an energy source.”
Martin van Onna, Managing Director of Strohm, added that TCP can transfer up to nine times the amount of energy compared to a cable, and can be used to store hydrogen, thereby increasing the uptime of offshore wind farms.
“The pipe’s flexibility, lack of corrosion, fatigue and embrittlement make it the superior pipeline solution for offshore wind farms, generating hydrogen” said Mr van Onna. “The investment by HydrogenOne allows us to increase our capacity to service this exciting and growing market.”
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