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Visit Cruachan The Hollow Mountain (Ext), Independent Advisory Board on Sustainable Biomass, Taskforce on Climate Related Financial Disclosures, Drax responds to the UK emissions trading scheme (ETS) reforms July 2023, Drax responds to Jonathon Porritts BECCS Done Well report, Government backs carbon capture pilot at Draxs CCUS incubation site, Drax welcomes CCCs call for faster progress in delivering UK carbon removals and confirms decommissioning of coal units will continue, Drax Foundation donates over 320k to support STEM education and community initiatives in UK and North America, Delegation of Japanese industry and embassy officials visit Drax Power Station, Drax selects Houston, Texas as headquarters for bioenergy carbon capture business, The role of biomass in securing reliable power generation, Working towards carbon negative: Reducing supply chain emissions, Achieving Draxs ambitious decarbonisation goals means continuing to find innovative ways to reduce emissions across our operations, Progress on building a positive future for climate, people and nature, Storage solutions: 3 ways energy storage can get the grid to net zero, Forests, net zero and the science behind biomass, Transporting carbon How to safely move CO. Get the full list, Youre viewing 5 of 12 investments and acquisitions. Drax Group is a renewable energy company engaged in renewable power generation, the production of sustainable biomass and the sale of renewable electricity to businesses. Better visibility across Drax Group's operations; Much more than just subject access requests; Powering growth with privacy modules; In 2019 Drax announced a world-leading ambition to be carbon negative by 2030, using Bioenergy with Carbon Capture and Storage (BECCS) technology . , 97 M Drax is headquartered in Selby, North Yorkshire, the UK. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Read More View Company Info for Free Who is Drax Group Headquarters Drax Power Station, Selby, North Yorkshire, YO8 8PH, United Kingdom Phone Number +44 1757618381 Website www.drax.com Revenue $6.2B Stock Symbol DRX We are committed to sourcing sustainable biomass that achieves both decarbonisation and positive forest outcomes. This website uses cookies so that we can provide you with the best user experience possible. Detailed insights into open, awarded and pre-solicited tenders and contracts for Drax Group Plc. Questions were raised over renewable-classed Canadian-sourced wood pellets used to produce power at Draxs North Yorkshire power station in a House of Lords debate. Drax Group | Customers | OneTrust Opus Energy is Drax's supply business that specialises in servicing small and medium-sized enterprises. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Alongside carbon emission reductions, carbon removal technologies are needed to remove carbon from the atmosphere. The Company is engaged in renewable power generation, the production of sustainable biomass, and the sale of renewable electricity to businesses. 1 ICT Spend & Tech Priorities Its subsidiaries include Abergelli Power Limited, Abbott Debt Recovery Limited, Alabama Pellets LLC, Amite BioEnergy LLC, Arkansas Bioenergy LLC, Baton Rouge Transit LLC, DBI O&M Company LLC, Demopolis Pellets LLC, Drax Biomass Acquisitions LLC, Drax Biomass Inc., Drax Biomass Holdings Limited and Drax Biomass Holdings LLC. News at Drax Group - The Official Board Visit Cruachan The Hollow Mountain (Ext), Independent Advisory Board on Sustainable Biomass, Taskforce on Climate Related Financial Disclosures, Strategic Report from the Annual report and accounts 2022, Leading B2B renewable energy supplier changes its name to Drax, Robust trading and operational performance in Q1-2021, progressing biomass strategy. Drax Group PLC is a United Kingdom-based renewable energy company. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid. (SPACs), Transportation, Infrastructure & Logistics. . [17] Some 12 years later in 1986, stage two (units 4, 5 and 6) was completed. Explore a comprehensive guide to our business model and investor relations. Drax Group Share Forecast, Price & News (LON:DRX) - MarketBeat You must therefore seek independent legal, investment or other appropriate advice from a suitably qualified and/or authorised and regulated advisor prior to making any legal, investment or other decision. The jobs and careers supporting the UKs net zero future >. The role of biomass in securing reliable power generation >. With an effective carbon removals policy and the right investment framework from the UK Government, we could deploy bioenergy with carbon capture and storage (BECCS) on two of our existing biomass generating units in the UK to remove 8Mt of CO2 each year by 2030. Our activities are underpinned by safety, sustainability, operational excellence and expertise in our markets. Read our carbon capture, sustainable bioenergy and power generation stories, as well as thinking from Draxs leaders and business updates. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. Drax Group Plc Company Profile - GlobalData In March, the company appointed Studio Pietrangeli to optimise its plans to build the UKs first new pumped storage hydro plant. The Pellet Production segment is engaged in the production and subsequent sale of biomass pellets at the Groups processing facilities in North America. Full year results for the twelve months ended 31 December 2021 The forests we source our biomass from are managed in accordance with standards designed to support the health and growth of these forests over the long term. Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It is the UKs largest source of renewable electricity. Information about our business, partnerships and campaigns, as well as photos, graphics and multimedia assets for journalists, and educational materials for schools. [13] Drax confirmed that approval had been granted on 1 January 2019. 2023 PitchBook. This group tax strategy 1 is governed by the Board of Drax Group plc (the Board .) Drax Groups ambition is to become a carbon negative business by 2030, through innovative greenhouse gas removal technology. We use this information to make our site faster, more relevant and improve the navigation for all users. According to Canadian environmentalists, Draxs pellets have been sourced from ancient rainforests, contrasting the companys line that they come from forestry waste. Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. Its subsidiaries include Drax Finance Limited, Drax GCo Limited, Drax Group Limited, Drax Intermediate Holdings Limited and Drax Holdings Limited. The London Stock Exchange was weighed down after disappointing eurozone . S&P Global Market Intelligence Short Selling Activity S&P Global Market Intelligence. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping us understand which sections of the website you find most interesting and useful. Contact by email its executives including Will Gardiner. In April, the company announced the end of coal burning operations at its plant in Yorkshire, northern England. Drax Group | Company Overview & News - Forbes The Generation segment provides renewable, dispatchable power, and system . By Umesh Ellichipuram. The principal downstream enterprises are based in the UK and include Drax Power Limited, which runs the biomass and coal fuelled Drax power station, near Selby in North Yorkshire. Explore our locations and our sustainable biomass approach across the globe. report available on the market, Understand Drax Group Plc position in the market, performance and strategic initiatives, Gain competitive edge and increase your chances of success. The jobs and careers supporting the UKs net zero future >. Drax rules out keeping UK coal plants open this winter, SSE/water batteries: incentives needed to end storage drought, UKs National Grid in talks with Drax to keep coal plant online, CBI grapples with twin threats to its long-term survival, British Chambers of Commerce creates business council to rival troubled CBI, Veteran UK stockpicker Richard Buxton bows out of Jupiter, Drax faces formal investigation over wood pellets burnt for power, The coming crackdown on the ESG ratings industry, Drax profits, dividends climb during power crisis, Provided by S&P Global Market Intelligence, The last IC recommendation on Drax Group PLC shares was Hold at 641.00 on 23 Feb 2023, Drax Group PLC is a United Kingdom-based renewable energy company. Drax operates a generation portfolio of sustainable biomass, hydro-electric and pumped hydro storage assets across four sites in England and Scotland. What is bioenergy with carbon capture and storage (BECCS)? Drax Group, located in North Yorkshire, United Kingdom, is an energy firm that is a power station and specializes in biomass fuel. Drax Groups ambition is to become a carbon negative business by 2030, through innovative greenhouse gas removal technology. Understand the energy storage landscape for Drax Group Plc, drawing on intelligence spanning electrochemical, electromechanical, thermal and hydrogen storage. History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events. From start-ups to market leaders, uncover what they do andhow they do it. The dispatchable generating assets at Drax remain critical to providing UK power system stability and security as the war in Ukraine continues to put global energy markets under considerable pressure. Share price information may be rounded up/down and therefore not entirely accurate. It sources biomass pellets from the US, Canada, Latvia, Estonia, Portugal, the UK, Lithuania and Brazil, among others; and operates biomass-compressed wood pellet production facilities and processing facilities in the US. Proactive has always been a forward looking and enthusiastic technology adopter. In 2021, the company was taken out of the S&P Global Clean Energy Index, as it is no longer considered to be a "clean" energy company by the S&P. It also provides a route to market for many smaller embedded renewable generators. A full list of rating actions is provided below. Your vote helps our reports be more useful. Drax Group plc does not currently have any hardcopy reports on AnnualReports.com. The Generation segment includes its power generation activities in the United Kingdom (UK). The Customers segment is engaged in the supply of electricity and gas to non-domestic customers in the United Kingdom. IT Client Prospector provides intelligence on Drax Group Plcs likely spend across technology areas enabling you to understand the digital strategy. Terms of use. Drax Group PLC is a United Kingdom-based renewable energy company. The company and its subsidiaries provide the generation and sale of electricity and by-products of the generation process from Drax Power Station, Selby, North Yorkshire, and the sale of electricity to business customers by Haven Power Ltd, which is a direct subsidiary of the group's principal trading subsidiary, Drax . Read more. Princeton Standard Pellet Corp-Pellet Plant Princeton British Columbia, Merrill Lynch International (Investment Management). Supporting wind and solar, by providing electricity at times of low sunlight or wind levels, will require flexible sources of generation, such as biomass. This is content that excites and engages motivated private investors. The Pellet Production segment is engaged in the production and subsequent sale of biomass pellets at the Groups processing facilities in North America. Delete or Cancel . Drax responded to the debate: We are confident in our business and operations and committed to ensuring the biomass we source delivers positive outcomes for the climate.. They provide a sustainable, low carbon fuel source that can be safely and efficiently delivered through our global supply chain. Drax Group Culture | Comparably [17], Related enterprises include Drax Biomass (which specialises in producing biomass pellets to be used to generate electricity and fuel domestic heating systems),[18] Baton Rouge Transit (which is responsible for storing and loading the biomass at the Port of Baton Rouge),[19] Haven Power (an electricity supplier)[20] and Opus Energy (a supplier of gas and electricity to businesses across the United Kingdom). Sustainable biomass can play an important role in supporting forest health. All rights reserved. Can carbon capture take the UK beyond net zero? It operates through three segments: Pellet Production, Generation, and. Please sign in or register. Full year results for the twelve months ended 31 December 2022 >. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Moving away from fossil fuels means building an electricity system that is primarily based on renewables. How does Drax's Market Cap benchmark against competitors? All our content is produced independently by our experienced and qualified teams of news journalists. One significant change was the emergence of vertically integrated companies, combining generation, distribution and supply interests. About us - Drax Global DRAX GROUP PLC : Shareholders Board Members Managers and Company Data as of Jul 05 2023. Drax Groups ambition is to become a carbon negative business by 2030, through innovative greenhouse gas removal technology. Drax Group plc : Shareholders Board Members Managers and Company [17] Drax was the last coal-fired power station to be built in the UK, and was initially designed to use low-sulphur coal from the nearby Selby coalfield in six generating units. The Company is engaged in renewable power generation, the production of sustainable biomass, and the sale of renewable electricity to businesses. FT is not responsible for any use of content by you outside its scope as stated in the. Drax Group PLC is a United Kingdom-based renewable energy company. Read our carbon capture, sustainable bioenergy and power generation stories, as well as thinking from Draxs leaders and business updates. Drax Group Company Profile: Stock Performance & Earnings - PitchBook Thinking globally and managing locally, Half year results for the six months ended 30 June 2022, Supporting a circular economy in the forests, Drax opens new pellet plant in Sweet Home Alabama, How biomass can enable a hydrogen economy, B2B energy supply and electrification solutions. Overview Jobs Life About us Drax is enabling a zero carbon, lower cost energy future Drax Group is a renewable energy company engaged in renewable power generation, the production of. Its subsidiaries include Abergelli Power Limited, Abbott Debt Recovery Limited, Alabama Pellets LLC, Amite BioEnergy LLC, Arkansas Bioenergy LLC, Baton Rouge Transit LLC, DBI O&M Company LLC, Demopolis Pellets LLC, Drax Biomass Acquisitions LLC, Drax Biomass Inc., Drax Biomass Holdings Limited and Drax Biomass Holdings LLC. By diligent sourcing of these materials to make pellets, our activity can help forest owners, and the larger forest industry, make the best use of forests, achieving both decarbonisation and positive forest outcomes. Were building for a sustainable future in how we source our biomass, generate energy, remove carbon dioxide and function as a business. Three generating companies and 12 regional electricity companies were created. through three segments: Pellet Production, Generation, and Customers. Many companies experienced financial problems, and Drax Power Station's major customer went into administration, triggering financial difficulties for Drax. Proven track record with . , 49 M You must be a registered user to save alerts. The Generation segment includes its power generation activities in the United Kingdom (UK). Opus Energy is Draxs supply business that specialises in servicing small and medium-sized enterprises. Drax Group (GB-DRX) has 2 subsidiaries. [14], On 15 December 2020, Drax Group announced the sale of Rye House, Damhead Creek, Shoreham and Blackburn Mill to VPI Holdings for 193.3m.

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