Energy Transition & Sustainability, Private Placements

Bryan, Garnier & Co acts as Sole Financial Advisor to Strohm and its shareholders in the context of the company’s EUR 30m fundraise led by Senco Hydrogen Capital

As the first to bring the Thermoplastic Composite Pipe (TCP) technology to market in 2007, Strohm has the world’s largest track record for TCP.

TCP lowers both the installation and life cycle costs for subsea flowlines, jumpers, and risers, while also reducing the CO2 footprint of pipeline infrastructures by over 50%. This strong, non-corrosive, spoolable, and lightweight technology is available in long lengths, leading to considerable savings in transportation and installation expenses. TCP can be installed using small vessels or subsea pallets, further cutting CO2 emissions, and is 100% recyclable. 

Since its commercial debut in 2021, the company has seen remarkable growth in revenues and a substantial increase in opportunities across all business segments.

Bryan, Garnier & Co acts as Sole Financial Advisor to Strohm and its shareholders in the context of the company’s EUR 30m primary fundraise led by Senco Hydrogen Capital.

Bryan, Garnier & Co organised, prepared and led a competitive process involving Tier-1 Growth and Venture Capital investors and family offices across the US, Europe, and Asia. 

Senco Hydrogen Capital will join the historical shareholders Chevron Technology Ventures, Evonik Venture Capital, HydrogenOne Capital, ING Corporate Investments and Shell Ventures.

Through the support of Senco Hydrogen Capital, Strohm aims to invest in additional production capacities to cater to growing customer demand and to continue its support in energy decarbonisation.

This marks another landmark transaction for Bryan, Garnier & Co’s energy transition practice and is a further demonstration of its expertise in supporting future-shaping technologies and the energy transition in challenging market conditions.

Established in 2007, Strohm is a fast-growing manufacturer specialising in Thermoplastic Composite Pipes (TCP). These pipes are utilised for various applications, including Offshore Hydrogen, CO2, and conventional offshore energy. The company’s TCP technology is fluid agnostic, reliable and durable, non-corrosive, cost-efficient, and CO2 friendly in contrast to incumbent technologies. Strohm addresses a customer base of energy producers and offshore engineering companies, including Shell, Subsea 7, Aker Solutions, and TotalEnergies.  

Originally rooted in conventional offshore energy, Strohm shifted its focus in 2022 towards supporting the energy transition through sustainable investments in manufacturing capacities for CO2 and hydrogen transportation solutions. 

Strohm is headquartered in IJmuiden, the Netherlands and has additional offices in the US and Brazil. The company employs more than 190 employees.

SENCO is the first hydrogen-focused investment firm in Germany that combines all relevant skills and experience to fully benefit from the diverse opportunities of the hydrogen market. 

SENCO invests €10m to €30m in companies and projects along the hydrogen value chain, generating sustainable and ESG-compliant returns on the asset class. The investment firm has offices in Munich, Cologne, and Hannover.