London-listed fund, HydrogenOne Capital Growth has today (December 15) revealed it has signed definitive agreements for a follow-on investment of £1.1m ($1.32m) in Dutch pipe manufacturer, Strohm, concluding a total €29m ($30.8m) investment round.
The funding round is hoped to enable the Thermoplastic Composite Pipe (TCP) manufacturer to accelerate manufacturing operations expansions, which are intended to enhance its capacity to deliver it TCP solutions to offshore green hydrogen and carbon capture, utilisation and storage (CCUS) markets.
In addition to the Strohm investment, HydrogenOne has today said it is investing in the €15m ($15.9m) second tranche, including a €10m ($10.6m) investment by ING Corporation Investments, as well as Strohm’s existing shareholders, Shell Ventures, Chevron Technology Ventures, and Evonik Venture Capital.
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