Storegga launches Americas business

Storegga, the independent UK decarbonisation developer, has today launched a new Americas business.  The Storegga Americas business will seek and develop decarbonisation and clean fuel opportunities across the region, including the US, Canada, Latin America and the Caribbean.

The Storegga Americas business has ambitious plans to scale up quickly.  David Cook is leading the business, with the support of Randy Wheeler.  David joins following his CEO role at the Norwegian Energy Company ASA (Noreco).  David is a broadly experienced energy industry executive with substantial international leadership experience, having held senior positions in oil and gas upstream and midstream businesses and renewables.  Prior to Noreco, David held executive roles at businesses such as INEOS, Orsted, TAQA and BP. 

In his role as Managing Director of Storegga in the Americas, David will be responsible for growing the portfolio. This includes building out the firm’s existing US operations which includes the recently announced development of a major carbon capture and storage hub along the Mississippi River in partnership with Talos Energy.

Randy was previously General Manager of Marquis Resources, an upstream company focused primarily along the US gulf coast.  Randy brings decades of experience in the US energy sector.  Prior to Marquis, Randy held various leadership roles with companies including Shoreline, Marlin, Shell and Enterprise Oil.

Nick Cooper, CEO of Storegga, said:

 “The Americas offer huge opportunity for an independent player like Storegga.  Unencumbered by a history in fossil fuels, we are able to bring together international investor support, governments, local communities, and energy companies from across the spectrum of producers through to renewables, enabling the development of vital projects we need to remove CO₂ at scale.  Countries across the Americas, including the US and Canada, are moving at pace to create supportive environments for these developments, including through tax breaks and financial support.

 “David is the absolute right person to turn the opportunity of the Americas into tangible climate repair operations.  He is a well-known and highly respected member of the international energy community, having led some impressive transformation work at some of the world’s best-known brands. Most pertinently, with companies making the transition away from fossil fuels to a low carbon economy, he has a deep understanding of international regulation and politics, together with a passion for people and partnership. This is exactly what we need to take advantage of the huge opportunities we see for Storegga’s decarbonisation technologies in the US and across the Americas.”

David Cook, Managing Director of Storegga Americas, added:

 “We see the effects of the climate crisis in the news around the world every day.  It’s great to be part of a passionate and experienced team with such an urgent determination to remove large volumes of CO₂ and create beneficial fuels. Obviously, I am extremely excited to be joining Nick and this incredible Storegga team of carbon removal and clean energy experts.

 “While Storegga started leading the way with a single, high integrity carbon capture and storage development in Scotland it is now taking that knowledge and the skills earned over twenty years to develop important large-scale decarbonisation projects around the world.  We are doing the right thing accelerating the development forefront of carbon removals and clean fuels, especially in the tremendous opportunity space of the Americas.”

 Storegga currently has carbon capture & storage, direct air capture, and hydrogen projects in development in Scotland (the Scottish Cluster and Cromarty), the US (with Talos Energy) and Norway (with Sval).   

ENDS

For further information please contact:

Dentons Global Advisers

Jennifer Walmsley, Fern Duncan, Leah Dudley                      

Email:    Storegga@dentonsglobaladvisors.com

Tel:        +44 20 7664 5086

 Notes to Editors:

Storegga

Storegga Limited is an independent, UK-based decarbonisation development business.  It develops early stage carbon capture and storage, direct air capture, and hydrogen projects in the UK and internationally to contribute to achieving net zero targets.  The company employs approximately 80 people in the UK, US and Singapore, with its head office in London. 

Storegga is a private company backed by GIC, Mitsui & Co., Ltd., M&G Investments, Macquarie Group and Snam.

Storegga is the lead developer of the Acorn Carbon Capture and Storage and Hydrogen project in Aberdeen, Scotland.  The Acorn Project will provide critical backbone infrastructure for the Scottish Cluster. The Scottish Cluster unites communities, industries and businesses to deliver CCS, hydrogen and other low carbon technologies, supporting Scotland, the UK and Europe to meet net zero goals.  The business is also developing Europe’s largest direct air capture plant in Aberdeen, as part of the Scottish Cluster.

The company also announced Scotland’s first green hydrogen project in Cromarty with Scottish Power in May 2022.  Storegga backs both the Cromarty and North East Scotland green freeport bids.