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HydrogenOne invests in Strohm

4C Offshore | Tom Russell
By: Tom Russell 15/08/2022 HydrogenOne


HydrogenOne Capital Growth plc (HydrogenOne) announced that it has signed definitive agreements for an investment of £8.4m (€10m) in Strohm Holding B.V. (“Strohm”). 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 £11.8m (EUR 14m).


HydrogenOne may also invest up to a further £1.7m (EUR 2m) in the second close of this funding round, which is anticipated to be at least £5.1m (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 . The company is aiming to develop safe and dependable pipeline solutions, whereby green hydrogen generated at offshore wind turbines can be transported to shore via Strohm’s subsea pipe infrastructure.

From its base near Amsterdam, the Netherlands, Strohm designs and manufactures of Thermoplastic Composite Pipe (TCP). The company claims TCP is more cost effective than steel pipe and has c.50% less manufacturing greenhouse gas emissions. As TCP is a flexible pipe, it can be installed offshore, using the same methods as currently used for array cables. The technology can be used to safely transport hydrogen, CO2, ammonia and water.

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 offer pipe solutions.

Simon Hogan, Chairman of HydrogenOne, commented: "We continue to demonstrate the impressive pace and quality of our capital deployment through this latest investment in Strohm. This is our ninth private investment since the launch of our clean hydrogen-focused fund and an excellent addition to our growing portfolio.

“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, said: “We recognised the fit between clean hydrogen and offshore wind at an early stage, and developed a compelling pipe solution to support it. 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. “The investment by HydrogenOne allows us to increase our capacity to service this exciting and growing market.”

Peter van Giessel, Partner at Shell Ventures, said: “We are looking forward to working with HydrogenOne to further realise the potential of Strohm. The company has qualified its products, commercially deployed them in various applications across the world and has now reached the inflection point. This investment underlines the versatility of Strohm’s technology and its potential to play an important enabling role in the offshore renewable space.”

Bernhard Mohr, Managing Director of Evonik Venture Capital, added: “As a long-term investor and development partner, Evonik actively supports Strohm's contribution to the energy transition. The jointly developed thermoplastic composite pipes are the most reliable and cost-effective solution for the transport of offshore hydrogen. With HydrogenOne, we found the ideal partner to bring the technology to scale and establish Strohm in the field of renewable hydrogen.”

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