Appointment of Alistair Buchanan CBE as Non-Executive Chairman

 

Storegga Geotechnologies, an independent UK company pioneering carbon reduction and removal for  a net zero world, is pleased to announce the appointment of Alistair Buchanan CBE as Non-Executive  Chairman. 

Alistair is a leader in the energy and regulated utilities sector and brings with him a wealth of knowledge  and experience from his thirty plus years in the industry. For ten years he served as Chief Executive of  Ofgem (2003-2013), the UK’s gas and electricity markets regulator. While at Ofgem, Alistair led the  creation of the regulatory structures for both the offshore wind industry and the total revision of the onshore network regulatory regime (“RIIO”). This experience will enable Storegga to provide further  assurance to both BEIS and Ofgem during future critical discussions on both the shape of carbon and  hydrogen markets, and the regulatory process to be adopted. 

During his career, Alistair trained as a Chartered Accountant at KPMG and then went on to become an  award-winning energy sector analyst and head of research for banks in New York and London. Between  2008-2009, Alistair was a Non-Executive Director and member of the Audit Committee at Scottish Water  Ltd. Additionally, between 2018 -2020, he was an Independent Non-Executive Director at Thames  Water Utilities Ltd where he was also the Chair of the Planning & Strategy Committee and a member  of the Audit Committee. He also sat on the Boards of Durham University, his alumni, and Royal Holloway  University. He returned to KPMG in 2013 as a Partner and served for five years. 

Currently, Alistair serves as Chairman of Electricity North West, the power network operator for the  north west of England and is also on the Board of WH Ireland plc. 

Dr Nick Cooper, Storegga CEO, commented:  

“We are delighted that Alistair has agreed to join the experienced management team of Storegga as  Non-Executive Chairman. Our Board and Senior Team have the skillsets and experience to play a  leading role in meeting the UK’s net zero commitments and in delivering shareholder returns. Alistair  joins us at a time of acceleration in both the Acorn Project and our international intitiatives.” 

Alistair Buchanan CBE, said: 

“I look forward to leading the Board of Storegga at this exciting time in its development. The Company  is pioneering carbon reduction and removal for the net zero world initially through its Acorn CCS, Acorn  Hydrogen and Storegga Direct Air Capture projects. These are positioning the UK as a global leader in  CCS solutions. I am looking forward to working with Nick and the team to deliver for all Storegga’s  stakeholders.” 

For further information please contact: 

Camarco (PR and Media) 

Billy Clegg, Monique Perks, Tom Huddart    020 3757 4983 

Madano (Public Affairs) 

Andrew Turner, Neil Stockley, James Watson    07702 962043 

Notes to Editors: 

Storegga Geotechnologies

Storegga is an independent carbon management business at the forefront of the global Net Zero  strategy. Through its wholly owned subsidiary, Pale Blue Dot, Storegga is the lead developer of the  Acorn Carbon Capture and Storage (“CCS”) and Hydrogen project, providing essential infrastructure to  help the UK meet its net zero targets.  

Storegga has partnered with leading engineering and technology groups at the forefront of their fields  to accelerate project activity. The Company has partnered with Carbon Engineering to develop Air  Capture (“DAC”) in the UK,  

Storegga Geotechnologies: (storegga.earth) 

For more information on the Acorn CCS and Hydrogen Project, please visit: theacornproject.uk