Storegga Geotechnologies

What Storegga Geotechnologies does

Storegga Geotechnologies is an independent UK-based developer of decarbonisation infrastructure projects focused on carbon capture and storage (CCS), green hydrogen, and direct air capture (DAC). The company's flagship project is Acorn CCS at the St Fergus gas terminal in Aberdeenshire, Scotland, designed to capture and permanently store CO2 from industrial emitters in deep geological formations under the North Sea, with a designed capacity of at least 20 Mtpa within the first decade of operations. Storegga also developed green hydrogen projects (Cromarty and Speyside, divested to Protium in May 2026), a planned 1 MTPA DAC facility in North East Scotland with Carbon Engineering, and international CCS projects in Norway (Trudvang, 30% stake), Malaysia (Penyu Basin joint venture with PETRONAS and ADNOC), and the United States (Harvest Bend and Coastal Bend CCS in Louisiana via a Talos Energy joint venture).

The company generates revenue primarily through project development fees and equity stakes in decarbonisation infrastructure projects rather than operational asset cash flows, as all major projects remain pre-FID. Storegga's go-to-market is direct enterprise sales to heavy industrial emitters and government counterparties, with long sales cycles driven by regulatory approvals, government co-funding, and bilateral infrastructure agreements. The business is supported by four institutional funding rounds since July 2020 and a world-class shareholder group comprising ADNOC, GIC, Macquarie, Mitsui, M&G Investments, and Snam.

Storegga employs approximately 80 people across the UK, US, and Singapore, and is led by incoming CEO Steve Murphy (announced June 2026), with founder Nick Cooper serving as Non-Executive Chair. The company's competitive position is anchored by the Acorn project's European Project of Common Interest designation and a £200 million UK Government development funding commitment from the June 2025 Spending Review, positioning it as a leading UK CCS developer entering the FID phase.

Name

Storegga Geotechnologies

Legal name

Storegga Geotechnologies

Website

https://storegga.earth

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

Storegga Geotechnologies is a UK-based independent developer of carbon capture and storage (CCS) infrastructure, focused on the flagship Acorn CCS project in Aberdeenshire and international CCS opportunities in Norway, Malaysia, and the United States, serving heavy industrial emitters and government counterparties.

Ownership category

akta.pro rank

Product category

Carbon Capture and Storage Infrastructure

NAICS

Pipeline Transportation of Refined Petroleum Products (486910)

SIC

Oil & Gas Field Machinery & Equipment (3533), Pipe Lines (No Natural Gas) (4610)

akta.pro primary industry

CO₂ Storage Site Development & Permitting (Characterization, Licensing, Stakeholder Engagement) (EUABAHAF)

akta.pro secondary industries

CO2 Storage & Feedstock Buffering for Power-to-X (Liquefaction, Interim Storage) (EUAFAFAF), Carbon Removal Credits Trading (DAC, BECCS, Biochar, Mineralization) (EUAGAIAL)

Keywords

• Carbon capture storage
• Green hydrogen production
• Direct air capture
• Decarbonisation infrastructure
• Industrial emissions reduction

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Infrastructure Development Fees: Storegga generates revenue through development fees from engineering, design, and project development services for CCS and hydrogen infrastructure projects. The company also earns fees through strategic partnerships and government contracts for project development.
2. Project Equity Investment: Storegga acts as lead developer and equity investor in decarbonisation projects. The company takes equity stakes in projects it develops (Acorn CCS, hydrogen projects) and generates returns through project equity appreciation and eventual operational cash flows.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Storegga is an independent developer of decarbonisation projects that develops, builds, and operates carbon capture and storage (CCS) infrastructure and green hydrogen production projects. The company provides CO2 transportation and permanent geological storage solutions to industrial emitters and government customers in the UK, US, Norway, and Malaysia, leveraging repurposed oil and gas infrastructure.

Product overview

Storegga is an independent developer of decarbonisation projects offering a portfolio of carbon capture and storage (CCS) and hydrogen infrastructure solutions. The core offering consists of Acorn CCS (the flagship UK project at St Fergus), complemented by hydrogen production projects (Cromarty Hydrogen and Speyside Hydrogen), and Direct Air Capture technology. The company also operates internationally with Trudvang CCS in Norway, Penyu Basin CCS in Malaysia, and Harvest Bend and Coastal Bend CCS projects in the United States. Storegga's business model involves developing, building, and operating low-carbon infrastructure that enables industrial decarbonisation across multiple sectors including manufacturing, power generation, distilling, and chemicals.

Differentiator

Problem solved

Functional benefit

Products and services

• Acorn CCS Carbon capture and storage project located at the St Fergus gas terminal in Aberdeenshire, Scotland, designed to capture and transport CO2 emissions from industrial emitters for permanent storage in North Sea geological formations, with potential to store at least 20 Mtpa of CO2 within the first decade.
• Direct Air Capture (DAC) Large-scale Direct Air Capture facility planned for North East Scotland in partnership with Carbon Engineering, designed to permanently remove 500,000 to 1 million tonnes of CO2 annually from the atmosphere using liquid-based DAC technology with geological storage.
• Trudvang CCS Carbon capture and storage project on the Norwegian Continental Shelf, providing world-class CO2 storage solutions in the North Sea. Storegga holds a 30% stake in the restructured partnership.
• Harvest Bend CCS Carbon capture and storage project in Louisiana, USA, part of Storegga's US portfolio of decarbonisation initiatives developed through the Talos Energy joint venture.
• Coastal Bend CCS Carbon capture and storage project along the US Gulf Coast developed through the Talos Energy joint venture, leveraging offshore expertise for CO2 storage.
• Penyu Basin CCS Carbon capture and storage project in Malaysia's Penyu Basin offshore Peninsular Malaysia, under joint development with PETRONAS and ADNOC targeting at least 5 million tonnes per annum of CO2 capture and storage capacity by 2030.

Quantifiable outcome

• Acorn CCS can store at least 20mtpa of CO2 emissions within the first decade of operations
• +4 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core, major and supporting.

• PETRONAScoreStrategic or Co-development Partner · 20 August 2024Storegga, PETRONAS and ADNOC signed a Joint Study and Development Agreement (JSDA) to evaluate CO2 storage capabilities of saline aquifers in the Penyu basin, offshore Peninsular Malaysia. The agreement targets at least 5 mtpa of CO2 capture and storage capacity by 2030, exploring advanced technologies including AI for storage capacity enhancement.
• ADNOCcoreStrategic or Co-development Partner · 20 August 2024ADNOC joined the Malaysia CCS partnership alongside Storegga and PETRONAS for evaluation of saline aquifers in the Penyu basin. ADNOC targets 10 mtpa carbon capture capacity by 2030, equivalent to emissions from 2 million internal combustion vehicles.
• ScottishPowercoreStrategic or Co-development Partner · 5 May 2022Storegga and ScottishPower formed a partnership to develop, build and operate green hydrogen production plants across Scotland. The partnership focuses on the Cromarty Hydrogen Project (up to 20 tonnes/day green hydrogen) and broader Highland hydrogen projects targeting hundreds of MW capacity.
• Sval EnergimajorStrategic or Co-development Partner · 24 November 2021Storegga entered an agreement with Sval Energi (backed by HitecVision) to explore joint carbon storage opportunities on the Norwegian Continental Shelf. The partnership aims to establish a platform for CO2 storage license awards and build business cases for Norwegian CCS projects.
• OPITOsupportingStrategic or Co-development Partner · 17 November 2021OPITO, the global safety and skills body for the energy industry, signed an MoU with the Acorn Project and Scottish Cluster to develop industrial skilling and reskilling training for the low carbon economy. OPITO will provide standards and skills competency training to support CCS workforce development.
• Virgin AtlanticsupportingStrategic or Co-development Partner · 19 August 2021Virgin Atlantic signed an MoU to become a customer for Storegga's proposed large-scale UK Direct Air Capture facility, committing to purchase permanent CO2 removal through the planned 1 MTPA DAC facility in North East Scotland.
• Shell UKcoreStrategic or Co-development Partner · 16 July 2021Shell UK is an equal partner with Storegga and Harbour Energy in the Acorn CCS and Hydrogen Project. Shell serves as Technical Developer for the Acorn CCS project. The partnership leverages Shell's extensive offshore energy experience and infrastructure.
• Harbour EnergycoreStrategic or Co-development Partner · 16 July 2021Harbour Energy is an equal partner with Storegga and Shell UK in the Acorn CCS and Hydrogen Project. Harbour Energy brings expertise in North Sea oil and gas operations and subsurface knowledge.
• North Sea Midstream PartnerssupportingStrategic or Co-development Partner · 16 July 2021North Sea Midstream Partners signed an MoU to become participants in the Acorn Project, working with Storegga, Shell UK and Harbour Energy to develop CO2 transportation and storage infrastructure from the FUKA gas terminal at St Fergus.
• PetrofaccoreImplementation/ SI/ Consulting Partner · 30 June 2021Storegga entered a global Technical Delivery Alliance (TDA) with Petrofac for project development, execution and operations support. Petrofac provides engineering, project delivery and operational expertise to reinforce Storegga's growing portfolio of low carbon projects.
• Talos EnergymajorStrategic or Co-development Partner · 8 June 2021Storegga and Talos Energy formed an exclusive joint venture to source, evaluate and develop CCS project opportunities on the United States Gulf Coast and Gulf of Mexico. The JV leverages Talos's offshore energy expertise with Storegga's CCS development capabilities.
• Carbon EngineeringcoreTechnology or Integration · 4 April 2021Storegga partnered with Carbon Engineering (backed by Bill Gates) to develop Direct Air Capture technology in the UK. Carbon Engineering provides its proven industrial-scale DAC technology that captures CO2 directly from the atmosphere. Storegga is planning a 1 MTPA DAC facility in North East Scotland.
• EAUC (Education Alliance for Sustainability)supportingStrategic or Co-development Partner · 4 April 2021Storegga entered a MoU with the EAUC, a not-for-profit sustainability charity for post-16 education. The EAUC's Carbon Coalition selected Storegga's proposed DAC facility as part of its approved portfolio of carbon offsetting options, enabling UK universities and colleges to purchase permanent CO2 removal credits.
• UnipersupportingStrategic or Co-development PartnerStoregga and Uniper signed an MoU for shipping and storing captured CO2 through the Acorn CCS transportation and storage network, connecting Uniper's facilities to permanent geological storage.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Snam: Europe's largest gas infrastructure operator and Storegga shareholder since 2022, with growing hydrogen and CCS pipeline repurposing activities across Italy and Europe. Comparable as a gas infrastructure operator pivoting to CCS and hydrogen transport.
• Equinor: Norwegian major and lead operator of the Northern Lights CCS JV, with broad CCS, hydrogen, and renewable portfolios. Comparable as a North Sea CCS developer and infrastructure operator with substantially greater capital and execution capabilities than Storegga.
• Shell: Global energy major and equal partner in Storegga's Acorn CCS project, with broad CCS investments globally including Northern Lights and Quest CCS. Comparable as a deep-pocketed strategic investor and Technical Developer on Acorn.

Direct peers

• Sval Energi: Norwegian upstream operator backed by HitecVision with a dedicated CCS platform. Directly comparable as Storegga's joint study partner for Norwegian Continental Shelf CCS storage opportunities.
• Climeworks: Swiss Direct Air Capture developer operating the Orca and Mammoth plants. Directly comparable to Storegga's planned 1 MTPA DAC facility in North East Scotland, both pursuing industrial-scale atmospheric CO2 removal with permanent storage partnerships.
• Harbour Energy: UK-listed North Sea oil and gas producer and equal partner with Storegga in the Acorn CCS and Hydrogen Project. Comparable as a North Sea operator with subsurface expertise leveraged into CCS storage site development.
• Aker Carbon Capture: Norwegian-listed carbon capture technology company providing amine-based capture plants and developing Just Catch and Big Catch units. Comparable as a CCS-focused pure play serving similar industrial emitters, though Storegga is a project developer rather than capture equipment vendor.
• Carbon Engineering: Canadian Direct Air Capture technology provider (backed by Occidental and Bill Gates) supplying the liquid-based DAC technology for Storegga's planned North East Scotland facility. Directly comparable as a DAC-focused technology partner with overlapping end-market.
• Talos Energy: US Gulf of Mexico-focused independent with CCS operations including the Bayou Bend and Coastal Bend projects. Directly comparable as Storegga's JV partner on US Gulf Coast CCS developments and an active CCS operator in the same geographic corridor.
• Northern Lights JV: Equinor-led joint venture (with Shell and TotalEnergies) developing open-source CO2 transport and storage infrastructure on the Norwegian Continental Shelf. Directly comparable to Storegga's Trudvang CCS and the broader CCS infrastructure developer model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/StoreggaEarth
• LinkedInlinkedin.com/company/storegga

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Storegga Geotechnologies