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Storegga Geotechnologies

Carbon Capture, Utilization & Storage (CCUS)
Segments:
Flue-gas Capture, Direct Air Capture (DAC), Carbon Sequestration
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Product stage:
Seed
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UK-based Storegga Geotechnologies (Storegga) provides carbon capture and storage (CCS) solutions for energy-intensive sectors such as petrochemicals, agriculture, and airlines. In July 2020, Storegga acquired Pale Blue Dot Energy (PBDE), through which the company became the lead developer of the Acorn CCS Project (the UK’s first large-scale carbon capture project). In August 2022, Storegga launched a new entity “Storegga Americas” to explore clean fuel opportunities and to scale up its operations across the US, Canada, Latin America, and the Caribbean.


Key customers and partnerships


In June 2021, Storegga partnered with Carbon Engineering, a Canadian direct air capture (DAC) startup, to initiate engineering and designing a new facility in North East Scotland, which could remove between 500,000 and one million metric tons of CO2 from the atmosphere annually. The project was backed by a UK government grant of GBP 249,000 received in May 2021. In July 2021, Acorn CCS signed a memorandum of understanding (MoU) with SEGAL and FUKA gas terminals to capture carbon dioxide (CO2) from its operations. The two gas terminals will become the first customers for Acorn CCS. In August 2021, Storegga signed an MoU with Virgin Atlantic to secure the airline as an early customer.


In March 2022, Storegga partnered with Mitsui to commercialize its proprietary DAC technology. In June 2022, the company signed an MoU with Aker Carbon Capture to deploy CCS projects in the UK. Other partners include Sval Energi, Talos Energy, Freeport LNG and ScottishPower . In August 2023, Storegga together with Sval Energi, a Norwegian energy provider, and Neptune Energy, a UK-based oil and gas explorer, secured their previously applied CO2 storage license to develop the Trudvang CCS project in the Norwegian North Sea. In October 2023, the company signed an MOU with Svante to develop CCUS projects by combining Svante's carbon capture and removal filter technology and Storegga's CO2 transportation and storage expertise.


Funding and financials


Storegga’s most recent funding round was in January 2024, when it secured an undisclosed amount in its fourth funding round from existing investors such as GIC and Macquarie and a new investment from ADNOC. Previously in May 2022, the company raised GBP 51.3 million (USD 63.9 million) in its third funding round, led by Snam. In March 2021, Storegga raised an undisclosed amount from a funding round led by GIC, Mitsui & Co, and Macquarie Group to deploy a DAC facility in the UK.


Carbon Capture, Utilization & Storage (CCUS)

Carbon Capture, Utilization & Storage (CCUS)

Key stats
Featured companies
100
Total funding (USD)
5.2 Bn
Total addressable market (USD)
156.5 Bn
Key competitors
 
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Company profile
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EDGE Insights

Direct Air Capture’s $10 Billion Carbon Bounty

Recent Updates

Funding
Jan 8, 2024
Storegga receives investment from ADNOC
Carbon Capture, Utilization & Storage (CCUS)
Partnerships
Oct 17, 2023
Svante partners with Storegga to commercialize CCUS projects
Carbon Capture, Utilization & Storage (CCUS)
Regulation/policy
Sep 15, 2023
Storegga and partners receive licenses for Acorn carbon storage projects
Carbon Capture, Utilization & Storage (CCUS)
Partnerships
Aug 21, 2023
Storegga and partners secure Trudvang CCS license
Carbon Capture, Utilization & Storage (CCUS)
Partnerships
Feb 27, 2023
Storegga partners with Sval and Neptune for CO2 storage license
Carbon Capture, Utilization & Storage (CCUS)
Product updates
Jul 31, 2022
Storegga launches new entity “Storegga Americas”
Carbon Capture, Utilization & Storage (CCUS)

Company Brief


HQ location:
Albourne Farm Shaves Wood Lane Hassocks GBR
Founded year:
2020
Employees:
11-50
Total Funding:
USD 0.000

Investors


No investor data is available

Funding data are powered by Crunchbase
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