20 June 2022
Storegga, the independent UK decarbonisation developer, has appointed Michael Alsford into the new role of Head of Corporate Finance & Investor Relations. Michael joins from Citi, the global investment bank, where he was a director in equity research, specialising in energy transition areas such as renewables, biofuels and carbon capture & storage.
Prior to Citi, Michael held equity research roles at Morgan Stanley and Nomura and also worked in leveraged finance following his qualification as a Chartered Accountant at PricewaterhouseCoopers.
Nick Cooper, CEO of Storegga, said:
“We’re very lucky to have Michael on board. He brings substantial relevant experience and has really impressed the industry with the quality of his research at Citi on CCS and the energy transition.
“In only a couple of years, Storegga has grown from coordinating a single cluster of decarbonisation technologies in Scotland into an international developer with projects in several countries. The UK’s experience in decarbonisation is world-leading and accordingly our knowledge is directly applicable to many countries. With the latest IPCC report stressing the crucial, and urgent, role that decarbonisation technologies have to play, it’s logical that governments and international investors are keen to support the roll-out of carbon capture & storage, hydrogen and direct air capture to reverse the effects of CO2. We are a small but fast-growing business; Michael will be another key contributor to this essential effort.”
Michael Alsford, Head of Corporate Finance & Investor Relations, added:
“It’s really exciting to work with a company at this stage of its development. As Storegga replicates the blueprint of its Scottish Acorn project globally, there is a real opportunity for me to help support the company’s growth. There are significant pools of international capital looking to invest in energy transition developments and increasingly we are seeing the world’s leading thinkers back decarbonisation technology as an important part of solving the climate change conundrum. It’s therefore no surprise that Storegga already has the backing of some of the world’s leading infrastructure investors.
“Storegga is of great interest to investors because it is proving that it can convene complex groups of stakeholders around high integrity decarbonisation developments. A difficult task which requires a particular mix of expertise, from geologists to regulatory specialists to finance experts. I am really looking forward to working with such an impressive team and being part of the company’s vital mission to tackle climate change.”
For further information please contact:
Dentons Global Advisers
Jennifer Walmsley, Fern Duncan, Leah Dudley +44 20 7664 5086
Notes to Editors:
Storegga Limited is an independent, UK-based decarbonisation development business. It develops early stage carbon capture and storage, hydrogen, and other subsurface renewable 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 and Macquarie Group.
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.