Shareholder support clears the way for the Pinnacle acquisition, now expected to complete in April. We continue to see the deal as a major expansion of optionality for Drax and allows it to become a major upstream supplier to the growing opportunity in bioenergy, carbon capture and storage (BECCS). With additional recent funding progress at the Zero Carbon Humber initiative, Drax is in a strong position across the BECCS supply chain in our view.

01 Apr 2021
Drax Group - Shareholders Support Acquisition

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Drax Group - Shareholders Support Acquisition
Drax Group plc (DRX:LON) | 681 98.7 2.2% | Mkt Cap: 2,359m
- Published:
01 Apr 2021 -
Author:
Adam Forsyth -
Pages:
6 -
Shareholder support clears the way for the Pinnacle acquisition, now expected to complete in April. We continue to see the deal as a major expansion of optionality for Drax and allows it to become a major upstream supplier to the growing opportunity in bioenergy, carbon capture and storage (BECCS). With additional recent funding progress at the Zero Carbon Humber initiative, Drax is in a strong position across the BECCS supply chain in our view.