Drax Group plc

Drax Group plc

Overview: Drax Group plc is a British electrical power generation company. It is publicly traded on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History:

  • Founded: 2005

  • Headquarters: Drax, North Yorkshire, England, UK

  • Key People: Andrea Bertone (Chair), Will Gardiner (Chief Executive)

Operations: Drax Group operates primarily in the UK, with its main asset being the Drax Power Station, which is one of the largest biomass-fueled power stations in the world. The company also runs an international biomass supply chain business.

Financials (2022):

  • Revenue: £8,159.2 million

  • Operating Income: £469.4 million

  • Net Income: £82.5 million

  • Employees: Approximately 3,000 (as of 2023)

Sustainability Initiatives: Drax Group is committed to becoming a carbon-negative business by 2030 through innovative greenhouse gas removal technology. The company focuses on sustainable bioenergy and carbon capture and storage (BECCS) to achieve its environmental goals.

Key Projects:

  • Bioenergy with Carbon Capture and Storage (BECCS): Aims to remove carbon dioxide from the atmosphere while generating renewable energy.

  • Sustainable Biomass Sourcing:
     Ensures that biomass is sourced responsibly and sustainably.

  • For more information, you can visit www.drax.com

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