24 June 2021
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 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