Strohm designs and produces thermoplastic composite pipe (TCP) systems used across conventional and renewable energy applications. The company traces its roots to 1995 when two aerospace engineers founded Airborne International and later developed TCP for Shell in 1999. It built a full-scale TCP production site in IJmuiden (Port of Amsterdam) in 2012 and rebranded to Strohm in October 2020. Strohm supplies high-end composite products to sectors including space, aerospace and offshore energy. The company recently secured €30M in equity funding to accelerate growth, especially in hydrogen and carbon capture, utilisation and storage (CCUS) applications. Management says the funding and new partnership will help scale its technologies and support expansion in energy transformation markets. Strohm manufactures Thermoplastic Composite Pipe (TCP), an unbonded, flexible, corrosion-resistant pipe system overwrapped with aramid or glass fibres and an outer thermoplastic coating for subsea transport of hydrogen, CO2 and other gases. The company positions TCP as a lightweight, long-length reelable solution that reduces installation cost and carbon footprint versus steel and is agnostic to fluids including hydrogen, ammonia and CO2. Strohm plans to use recent funding to accelerate manufacturing operations, increase capacity and support rollout into offshore green hydrogen and CCUS markets, while helping clients meet net-zero goals. Management cites the largest orderbook in the company's history and rapidly increased global sales as drivers for an accelerated growth path. The business employs about 170 people across facilities in IJmuiden, Houston, Kuala Lumpur and Rio de Janeiro and built a full-scale TCP production site in IJmuiden in 2012. Founded in 1995, Strohm has a track record of supplying TCP into harsh offshore conditions and recently won an order to supply over 11 km of TCP for a Wilhelmshaven green gas terminal project. Strohm produces thermoplastic composite pipe (TCP) designed to transport hydrogen, CO2, ammonia and water with flexibility and resistance to corrosion and embrittlement compared with steel. The company says TCP is more affordable than steel, is 100% recyclable, and produces around 50% fewer greenhouse gas emissions during manufacture. Strohm highlights TCP can transfer up to nine times the amount of energy compared to a cable and can be used to store hydrogen, increasing offshore wind farm uptime. It operates a full-scale production site in IJmuiden (Port of Amsterdam) built in 2012, became independent in 2014, and rebranded to Strohm in October 2020. Financially, Strohm announced a €14M first close led by HydrogenOne (a €10M investment) with participation from Shell Ventures, Chevron Technology Ventures, and Evonik Venture Capital, and anticipates a further close later in 2022. The company plans to use the proceeds to expand capacity at its Dutch manufacturing facility and advance its energy-transition agenda, targeting planned offshore green hydrogen and CCUS projects in the North Sea basin.

Total raised

$62M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2024