Independent UK carbon reduction company Storegga attracts international investment to support development of leading carbon capture and storage project
Storegga, the parent company of Pale Blue Dot, the lead project developer of the Acorn Project, today announced an important round of international investment in the independent UK carbon reduction and removal company. GIC, Singapore’s sovereign wealth fund and Mitsui & Co. Ltd., a global trading and investment company, have become new investors in Storegga, alongside a further investment from the cornerstone investor, Macquarie.
The funds raised today will be used by Storegga to progress their carbon reduction projects including development of the Acorn Project and the company’s plans for a UK based Direct Air Capture (DAC) facility as well as supporting ongoing business development activities. Acorn has received match funding from the UK and Scottish Governments and has benefited from two rounds of Connecting Europe Facility (CEF) funding from the European Commission.