SENCO Fuels Future: €20 Million Investment in Strohm for Sustainable Energy Transition
Key Ideas
- SENCO, a private equity firm specializing in hydrogen and energy transition investments, successfully invested €20 million in Dutch company Strohm, known for innovative pipelines in the conventional and renewable energy sectors.
- This investment, post the first closing of SENCO’s Hydrogen Equity Fund, signifies a strong commitment to sustainable energy solutions and the hydrogen economy, crucial for reducing carbon footprints and advancing renewable energies.
- Strohm's focus on thermoplastic composite pipelines (TCP) aims to significantly lower CO2 emissions in the pipeline industry, aligning with the partnership's goal to scale innovative technologies for energy transformation, particularly in hydrogen and CCUS.
- With a shareholder group including prominent companies like Chevron, Evonik, and Shell Ventures, SENCO's investment in Strohm further boosts the development of low carbon solutions and innovative energy technologies in support of a sustainable future.
SENCO, a private equity firm with a focus on investments in hydrogen and energy-in-transition sectors, has successfully completed a €20 million investment in Strohm, a Dutch company that specializes in developing and manufacturing innovative pipelines for both conventional and renewable energy fields. This investment comes shortly after SENCO's Hydrogen Equity Fund's initial closure and marks a significant step for both companies towards a more sustainable and future-proof energy supply.
Carsten Schmeding, CEO of SENCO, emphasized the importance of supporting technologies that reduce carbon footprints and play a vital role in the hydrogen economy and renewable energy sector. Strohm, identified as a leader in thermoplastic composite pipelines (TCP), is seen as a valuable contributor to the global offshore energy industry.
The partnership between SENCO and Strohm aims to scale TCP technologies to lower CO2 emissions in the pipeline infrastructure domain, especially within the context of energy transformation related to hydrogen and CCUS. By investing in Strohm, SENCO aims to bolster the growth of companies contributing to the energy transition landscape.
Strohm's CEO, Martin van Onna, and the Chairman of the Supervisory Board, Bernhard Mohr, expressed their enthusiasm for working with SENCO to drive innovation in TCP development, positioning Strohm as a pioneer in sustainable energy solutions. The collaboration with other shareholders such as Chevron, Evonik, and Shell Ventures underscores the industry's collective effort towards low carbon solutions and innovative energy technologies.
In addition to the investment news, World Pipelines magazine's June 2024 issue features a section dedicated to hydrogen pipeline transport, offering insights on the global hydrogen pipeline market and discussions on modeling pure hydrogen pipelines, alongside technical articles on various industry topics.
Topics
Investing
Renewable Energy
Innovation
Sustainability
Investment
Energy Transition
Carbon Footprint
Private Equity
Offshore Energy
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