HydrogenOne Capital Growth, the first LSE-listed investment fund dedicated to clean hydrogen, has invested £8.4 million ($10 million) in Strohm Holding, a private supply-chain company focused on the offshore wind-to-hydrogen sector.
Strohm is developing safe and dependable pipeline solutions, whereby green hydrogen generated at offshore wind turbines can be transported to shore via Strohm’s subsea pipe infrastructure.
This fundraising is expected to enable Strohm to scale up its plant capacity in the Netherlands and deliver on its energy-transition agenda as it continues to support clients toward their net-zero goals.
HydrogenOne is investing alongside Strohm’s existing investors Shell Ventures, Chevron Technology Ventures and Evonik Venture Capital, in the first close of a £11.8 million ($14.4 million) funding round. As part of the deal, HydrogenOne may also invest up to £1.7 million ($2.1 million) more in the second close of this funding round, which is