Our Corporate Energy team has advised clean hydrogen-dedicated investment fund, HydrogenOne Capital Growth plc (HydrogenOne), on its participation in a €30 million equity fundraising by its portfolio company Strohm, a leading Dutch-headquartered manufacturer for innovative pipeline technology.

This follows the team's advice to HydrogenOne in 2022 in relation to a €10 million investment in Strohm.

This funding round was led by SENCO Hydrogen Capital, a leading private equity firm focusing on investments across the hydrogen and energy-in-transition value chain, complementing HydrogenOne's own investment policy. The investment is aimed at boosting Strohm's growth trajectory, which is focused on scaling-up manufacturing in the hydrogen and carbon capture utilisation and storage (CCUS) applications.

Strohm also seeks to reduce the carbon footprint in the pipeline infrastructure for conventional energies, to achieve more sustainable energy supply solutions overall.

Principal associate Siân Dewing led on the deal, alongside senior associate Alex Farrow and trainee solicitor Christy Morgan.

Speaking on the deal, Siân Dewing said: "We're incredibly pleased to have continued our advisory support to HydrogenOne on its green hydrogen investment portfolio. We're looking forward to seeing the next stage in Strohm's development as well as the continued development of other companies within HydrogenOne's investment portfolio."

Gowling WLG's multi-disciplinary Energy Transition team has a market-leading reputation, operating seamlessly around the globe. This latest transaction solidifies the team's position at the forefront of investments into the clean hydrogen sector, having recently been named by Inspiratia as the top UK hydrogen project adviser for the period 2020-2023, and follows a series of recent transactions for HydrogenOne, including a restructuring by portfolio company HH2E. The Energy Transition team has been advising on transactions across a range of energy transition technologies, including Brockwell on its acquisition of London-based renewable energy developer, RNA-Energy Ltd