What is Strohm?
Strohm manufactures fully bonded, Thermoplastic Composite Pipes (TCP). These pipes are engineered for superior performance, offering a lightweight, high-strength, and corrosion-resistant alternative to traditional materials. Their application in subsea production and oil field services translates into significant cost and operational benefits for clients. The company's technology is particularly relevant in harsh environments where durability and reliability are paramount, positioning Strohm as a critical supplier for the evolving energy infrastructure.
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 Evonik Venture Capital, Chevron Technology Ventures, HydrogenOne Capital, and Shell Technology Ventures, Inc (extinct
Other Financing Round (2022): $5.3M supported by HydrogenOne Capital Growth, Chevron Technology Ventures, Shell Ventures, and Evonik Venture Capital
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 CAPITAL is a private equity firm focused on investing in growth-oriented mid-sized companies in Europe that contribute to the energy transition, energy security, and hydrogen economy. The firm partners with institutional investors and aims to support businesses with proven products and clear growth prospects, typically investing between 10 to 15 million euros. SENCO emphasizes sustainable value creation and long-term partnerships, providing strategic support without interfering in daily operations. Their investment strategy aligns with climate protection goals and aims for net-zero emissions by 2050.
Chevron Technology Ventures
Chevron Technology Ventures is the corporate venture capital arm of Chevron Corporation, focused on investing in and developing new technologies that have the potential to enhance Chevron's businesses and improve environmental performance.
Evonik Venture Capital
Evonik Venture Capital is a company that operates in the Venture Capital & Private Equity industry. It employs 20to49 people and has 1Mto5M of revenue. The company is headquartered in Austria.
What's next for Strohm?
With this major enterprise-level funding and strategic investment, Strohm is poised for accelerated growth and market expansion. The capital infusion is expected to fuel further research and development, enhance manufacturing capabilities, and broaden the company's global reach. Strohm's focus on sustainable and efficient solutions aligns with the increasing demand for advanced materials in the energy transition, suggesting a future trajectory focused on innovation and strategic partnerships to solidify its market leadership in composite piping.
See full Strohm company page
