Storegga hires new CFO

UK-based CO₂ storage developer Storegga has hired Brandon Rennet as CEO, effective October 4, 2021, the company reported on September 20.

Brandon has more than 20 years of experience with national infrastructure projects, Storegga said, previously serving as CFO of Thames Water, the UK's largest water company. He also had 10 years of experience of senior finance roles including managing director of finance at energy group SSE.

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Storegga and its partners Shell and Harbour Energy are looking to develop the Acorn carbon capture and storage (CCS) project in Scotland, which will capture CO₂ from local industry and pump it offshore for storage under the sea bed. Although a final investment decision is not yet in place, the facility is expected to start operating in 2024.

"It is terrific to welcome Brandon to Storegga. He brings a highly relevant, complimentary skillset to the Storegga management team as we move into the next phase of the Acorn project and of our portfolio expansion," Storegga CEO Nick Cooper commented.

"Stroegga is pioneering CCS and direct air capture both in the UK, but also overseas, and I believe my experience in finance, energy, regulated industries and infrastructure will be beneficial to the business as it grows," Rennet added.