United Kingdom – Storegga has concluded its fourth funding round, which saw increased investment from existing shareholders GIC and Macquarie, alongside a notable addition – ADNOC, a diversified energy group at the forefront of advancing lower-carbon solutions through strategic investments in new energies and decarbonization technologies.
Storegga’s portfolio encompasses carbon capture and storage projects strategically located in the United Kingdom, the United States, and the recently unveiled Trudvang CO2 storage project in Norway. Notably, the company is spearheading the Acorn Transportation and Storage (T&S) system in Scotland, with the potential to store up to 10 million tonnes of CO2 annually by 2030. In the UK, Storegga’s Cromarty Hydrogen Project secured a contract as part of the UK Government’s inaugural Electrolytic Hydrogen Business Model allocation round.
The funds raised through this investment round will play a pivotal role in advancing ongoing projects and supporting business development activities across the company.
ADNOC addition
ADNOC brings sector expertise, financial capacity, and ambitious goals, positioning itself as a major contributor to the global deployment of CCS and hydrogen technologies.
Storegga’s successful funding round, with the strategic inclusion of ADNOC, underscores the increasing global momentum in decarbonization efforts. The company’s expansion from a regional player to an international force reflects the growing recognition of the pivotal role independent developers play in achieving ambitious sustainability goals.
