The private equity company SENCO, which specialises in investments along the hydrogen and energy-in-transition value chain, is investing EUR 20 million in Strohm, a company for innovative pipeline technology. As part of their co-operation, the partners want to work towards a more sustainable and future-proof energy supply.
As Carsten Schmeding, CEO and Managing Partner of SENCO, explains, the joint agenda of the two companies is to drive Strohm's growth strategy focussing on hydrogen and carbon capture applications and to reduce the consumption of CO2 in the pipeline infrastructure for conventional energies with the aim of providing more sustainable solutions for energy supply:
„With this investment, we are making targeted investments in innovative technologies that are critical to the success of the ramp-up of the hydrogen economy and renewable energies, while already contributing to the global reduction of the carbon footprint in the conventional energy world. We have identified Strohm 2023 as an attractive and market-leading company in the development of thermoplastic composite pipelines (TCP), which makes an innovative, sustainable and value-adding contribution to the growing global off-shore energy industry. We look forward to accompanying the company on its further growth path together with the management and the professional investor base.“
Growth course: SENCO joins the group of shareholders as lead investor
With the development of thermoplastic composite pipes, Strohm, headquartered in Ijmuiden, the Netherlands, intends to „significantly reduce CO2 emissions in the pipeline infrastructure sector“. The company is focussing on the further scaling of hydrogen and CCU technologies in the area of energy transformation, which, according to CEO Martin van Onna, is made possible by the „partnership with SENCO“.
As lead investor in the capital increase totalling EUR 30 million, in which existing investors also participated, SENCO complements the group of shareholders as a value-adding partner. The group of shareholders already includes companies such as Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments and Shell Ventures.
(Source: SENCO)
