TLDR:
– SENCO, a private equity firm specializing in investments in the hydrogen and energy-in-transition spaces, invested €20 million in Strohm, a Dutch company specializing in innovative pipelines for energy sectors.
– The investment marks a milestone for both companies and highlights their commitment to a more sustainable energy supply.
SENCO, a private equity firm focusing on investments in the hydrogen and energy-in-transition sectors, recently announced a €20 million investment in Strohm, a Dutch company known for its innovative pipelines in both conventional and renewable energy industries. The investment comes shortly after the first closing of SENCO’s Hydrogen Equity Fund, demonstrating a commitment to sustainable and future-proofed energy solutions. This move aligns with SENCO’s goal to support innovative technologies that reduce carbon footprints and contribute to the success of the hydrogen economy and renewable energies.
Carsten Schmeding, CEO and Managing Partner of SENCO, emphasized the importance of this investment in supporting technologies critical to the energy transition. SENCO identified Strohm as a market leader in the development of thermoplastic composite pipelines (TCP), which are sustainable and valuable in the offshore energy industry. The partnership between SENCO and Strohm aims to drive growth and innovation in the energy sector, with a focus on reducing CO2 emissions and advancing pipeline infrastructure.
Strohm, a pioneer in TCP development, is committed to reducing CO2 emissions in the pipeline sector. The investment from SENCO will enable Strohm to further scale its technologies and expand its reach, particularly in the energy transformation areas related to hydrogen and CCUS. With the backing and expertise of the SENCO team, Strohm aims to strengthen its position as an industry innovator and to develop sustainable solutions for the future.
As lead investor in a capital increase totaling €30 million, which involved existing shareholders, SENCO brings value-adding partners like Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments, and Shell Ventures. This collaboration underscores the industry’s support for low carbon solutions and innovative technologies in the energy sector.
The partnership between SENCO and Strohm exemplifies a growing trend of investment in companies driving the energy transition and sustainability efforts. Through their collaboration, both companies aim to develop cutting-edge solutions to address the challenges of our time and create a more sustainable future for the energy industry.
