HydrogenOne Capital Growth plc has made investments in Dutch offshore wind-to-hydrogen.
The company has entered a partnership with supply chain business Strohm Holding. This company is developing subsea pipeline solutions for green hydrogen generated through offshore wind turbines.
As per reports, the company has inked a deal to invest £8.4m in the company. “Strohm’s existing investors Shell Ventures, Chevron Technology Ventures and Evonik Venture Capital have also committed to the capital raise,” a report mentioned.
According to HydrogenOne, it is likely to invest additional £1.7m in the second close of the funding round. The investment is expected to scale-up the Strohm’s plant capacity in the Netherlands.
The company shared that it is their ninth private investment since they launched clean hydrogen-focused fund.
Simon Hogan, Chairman of HydrogenOne, was quoted, "We continue to demonstrate the impressive pace and quality of our capital deployment through this latest investment in Strohm. “
“Strohm’s core commitment to a sustainable future, through reduction of the carbon footprint of pipelines around the globe and provision of solutions for clean hydrogen applications, is one we support. We look forward to working with Strohm’s management team as it scales up to meet the growing demand for hydrogen as an energy source,” he was further quoted.
Meanwhile, Martin van Onna, Managing Director of Strohm, said: “We recognised the fit between clean hydrogen and offshore wind at an early stage, and developed a compelling pipe solution to support it, increasing the uptime of offshore wind farms.”
