FTSE-100 listed M&G joins ranks of Storegga investors

FTSE-100 listed M&G joins ranks of Storegga investors

M&G, a FTSE-100 listed savings and investments business, has become the fourth external shareholder in Storegga Geotechnologies, the lead developer of the Acorn carbon capture and storage and hydrogen project near Peterhead.

UK-headquartered M&G, which has £367 billion in assets under management and administration, joins the ranks of Storegga investors alongside Australian investment giant Macquarie, Singapore’s sovereign wealth fund, GIC, and Japanese global trading company Mitsui & Co.

Macquarie made an initial “cornerstone” investment in July 2020, receiving a 21.5% in Storegga, which became the holding company Banchory-based Pale Blue Dot Energy, which had been spearheading Acorn.