Storegga

About Storegga

Storegga is an independent company, established in 2019, focused on developing carbon reduction and removal technologies. The company is the lead developer of the Acorn Project and the Scottish Cluster, which are strategically located in North East Scotland and repurpose existing oil and gas infrastructure for CO2 transport and permanent storage. The Acorn Project, one of the most mature CCS and hydrogen projects in the UK, is expected to be operational in the mid-2020s. It aims to store at least 6 million tonnes of CO2 per year by 2030, which is half of the UK government's target.

Storegga was founded by Nick Cooper and Alan Booth, who were involved in the UK's earliest carbon capture and storage work. In 2020, Storegga acquired Pale Blue Dot Energy, the original lead developer of the Acorn CCS and Acorn Hydrogen projects. The company's business model centers on developing and operating the entire carbon management ecosystem, including carbon capture, transport, geological storage, low-carbon hydrogen generation, and direct air capture (DAC). Its clients are industrial emitters looking to decarbonize their operations. Storegga has established partnerships with companies like Shell, Harbour Energy, and North Sea Midstream Partners for the Acorn project and with Carbon Engineering for a large-scale direct air capture facility.

The company has secured significant funding from institutional investors, including Macquarie Group, GIC (Singapore's sovereign wealth fund), Mitsui & Co., Snam, M&G Investments, and ADNOC. It has projects in development in the UK, the US, and Norway. One of its key DAC projects in North East Scotland, in partnership with Carbon Engineering, aims to remove up to one million tonnes of atmospheric CO2 annually. The CO2 is transported via pipeline and permanently injected into deep geological formations, such as depleted oil and gas reservoirs, several kilometers under the seabed.