2022-05-03 08:54:19
In February, Pinnacle Renewable Energy Inc. and Drax Group’s U.S. pellet business Drax Biomass Inc. announced they rebranded as Drax in a move that supports the group’s growth strategy, climate goals and relationships with people – including colleagues, communities, partners, customers and suppliers.
Drax Group acquired Pinnacle last year. Drax’s existing operations in the U.S. South were known as Drax Biomass.
Drax Group has 17 pellet plants and developments in the U.S. and Canada, which use byproducts from sustainably managed working forests, such as sawmill and forestry residues, for pellet feedstock. The pellets are used at Drax Power Station in England to generate renewable electricity for millions of UK homes and businesses or are sold to customers in Europe and Asia seeking to decarbonize their power sectors to meet their climate commitments.
Drax is also developing a pioneering negative emissions technology – bioenergy with carbon capture and storage (BECCS) which permanently removes millions of tonnes of carbon dioxide from the atmosphere. The world’s leading climate scientists at the UN’s IPCC say BECCS is critical to addressing the climate emergency.
Drax plans to increase its annual pellet production capacity to eight million tonnes by 2030 from around four million tonnes currently and is doubling global pellet sales to four million tonnes by 2030 to meet an expected increase in global demand for the low-carbon fuel.
©Annex Biomass_CFI_OF. View All Articles.