What is Strohm?
Strohm specializes in the production of fully bonded, Thermoplastic Composite Pipe (TCP). These pipes are engineered for lightweight strength and superior corrosion resistance, offering substantial cost and operational advantages, particularly in demanding subsea production and oil field service applications. The company's innovative material science and manufacturing processes position it as a key player in providing advanced solutions for the energy industry.
How much funding has Strohm raised?
Strohm has raised a total of $73.2M across 5 funding rounds:
Series C
$25.7M
Multiple Rounds
$26.1M
Unspecified
$21.4M
Series C (2016): $25.7M with participation from Saudi Aramco Energy Ventures
Unspecified (2022): $10.2M led by Shell Technology Ventures, Inc (extinct, HydrogenOne Capital, Evonik Venture Capital, and Chevron Technology Ventures
Other Financing Round (2022): $5.3M supported by Shell Ventures, Evonik Venture Capital, Chevron Technology Ventures, and HydrogenOne Capital Growth
Other Financing Round (2022): $10.6M featuring ING Corporate Investments
Unspecified (2024): $21.4M backed by SENCO Hydrogen Capital
Key Investors in Strohm
SENCO Hydrogen Capital
SENCO Hydrogen Capital is a private equity firm focused on growth-oriented mid-sized companies in Europe, particularly those contributing to the energy transition and hydrogen economy. They partner with institutional investors to support businesses with proven products and clear growth prospects.
Evonik Venture Capital
Evonik Venture Capital is a venture capital arm that invests in companies within the Venture Capital & Private Equity industry, likely focusing on innovative solutions relevant to Evonik's chemical expertise.
Chevron Technology Ventures
Chevron Technology Ventures is the corporate venturing arm of Chevron, focused on investing in and developing new technologies that can enhance Chevron's business operations and contribute to the energy transition.
What's next for Strohm?
The recent major strategic investment signifies a pivotal moment for Strohm, likely enabling accelerated expansion of its manufacturing capabilities, further research and development into advanced composite materials, and broader market penetration. This capital injection is expected to bolster its competitive edge in providing cost-effective and high-performance piping solutions for offshore energy operations, potentially supporting the transition towards more sustainable energy infrastructure.
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