Snam backs CCS and hydrogen developer Storegga

Italian gas network company becomes strategic shareholder as Storegga secures $63mn in third-round fundraise

Italian gas infrastructure company Snam has bought a stake in carbon capture and storage (CCS) and clean hydrogen project developer Storegga as part of a £51.3mn ($62.8mn) third-round fundraise by the UK-based company. The size of Snam’s investment was not disclosed. Storegga also secured additional funding from existing shareholders Singaporean sovereign wealth fund GIC, Japanese conglomerate Mitsui, global investment manager M&G Investments and financial services firm Macquarie Group. “It is terrific to add Snam to this shareholder group. They are a leader in the energy transition, with specialist experience in crucial areas such as gas transportation and hydrogen that support our miss

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in Subscribe now
to get full access Register now
for a free trialAny questions?
Contact us

Comments

Comments

{{ error }}

Add Comment

{{ comment.comment.Name }} Editor • {{ comment.timeAgo }}

{{ comment.comment.Text }}