Strohm completes investment round

Funding rounds will enable Strohm to accelerate the expansion of its manufacturing operations to meet growing demand from the hydrogen and CCUS sectors

Thermoplastic composite pipe (TCP) manufacturer Strohm has completed a €15mn ($15.9mn) funding round. Dutch investment group ING Corporate has put in €10mn, with the remaining €5mn made up by existing shareholders Shell, Chevron, German investment group Evonik Venture Capital and investment fund HydrogenOne Capital Growth. An initial €14mn was raised in August, with HydrogenOne investing €10mn and the remainder coming from Strohm’s other main shareholders. €29mn — Total level of investment The combined funding rounds will enable Strohm to accelerate the expansion of its manufacturing operations to meet growing demand from the hydrogen and carbon capture, utilisation and storage secto