Pinnacle Renewable Energy and Drax Biomass rebrand to ‘Drax’
The move supports the group’s growth strategy, climate goals and relationships with people, including colleagues, communities, partners, customers and suppliers.
Drax Group acquired Pinnacle, which has operations across British Columbia and Alabama, US, last year. Drax’s existing operations in the US South were previously known as Drax Biomass.
Drax Group has 17 pellet production plants and developments in the US and Canada, which use by-products from sustainably managed working forests, such as sawmill and forestry residues, for pellet feedstock.
The pellets are used at Drax Power Station in North Yorkshire, UK to generate renewable electricity for millions of UK homes and businesses are sold to customers in Europe and Asia seeking to decarbonise their power sectors to meet their climate commitments.
Drax is also developing bioenergy with carbon capture and storage (BECCS) technology to permanently remove millions of tonnes of CO2 from the atmosphere.
“Last year’s acquisition of Pinnacle advanced Drax’s strategy to increase sustainable biomass production capacity and reduce costs, creating the world’s leading biomass generation and supply business that is well placed to play a critical in helping countries to meet net zero,” said Drax’s executive vice-president of pellet operations, Matt White.
“We have made good progress integrating Pinnacle and this rebrand will provide a firm foundation for the business to meet the expected growth in global demand for sustainable biomass and our negative emissions technology, BECCS.”