Drax Group (DRX)

Sector:

Electricity Generation and Distribution

Index:

FTSE 250

289.20p
   
  • Change Today:
      7.40p
  • 52 Week High: 413.80
  • 52 Week Low: 251.00
  • Currency: UK Pounds
  • Shares Issued: 396.63m
  • Volume: 762,807
  • Market Cap: £1,147.04m
  • RiskGrade: 194
  • Beta: 1.19

Drax kicks off first biomass carbon capture scheme

By Oliver Haill

Date: Friday 08 Feb 2019

LONDON (ShareCast) - (Sharecast News) - Drax is the first company in the world to capture carbon dioxide from its biomass-burning power station as it looks to become the first in the industry with negative emissions.
Using bioenergy carbon capture and storage technology from C-Capture, one tonne of CO2 is being prevented from entering the atmosphere each day from a demonstration wood-burning plant at Drax in North Yorkshire.

Drax is still seeking ways to store and use the captured CO2 and how to scale up the BECCS pilot to deliver negative emissions.

Drax has invested £400,000 in the pilot, which it said could be the first of several projects to deliver a rapid, lower cost demonstration of BECCS.

The company could capture 50m tonnes of carbon dioxide per year by 2050, approximately half the nation's emissions target, according to estimates from The Royal Society and Royal Academy of Engineering.

"This innovative technology has the potential to make huge strides in our efforts to tackle climate change while kick-starting an entirely new cutting-edge industry in the UK," energy and clean growth minister Claire Perry said.

Drax chief executive Will Gardiner said: "Proving that this innovative carbon capture technology works is an exciting development and another important milestone in our BECCS project."

He added that the company was working with the government and other businesses on ways in which the carbon dioxide being captured can be stored or used in other processes.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Drax Group Market Data

Currency UK Pounds
Share Price 289.20p
Change Today 7.40p
% Change 2.63 %
52 Week High 413.80
52 Week Low 251.00
Volume 762,807
Shares Issued 396.63m
Market Cap £1,147.04m
Beta 1.19
RiskGrade 194

Drax Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
82.72% above the market average82.72% above the market average82.72% above the market average82.72% above the market average82.72% above the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend Not Available
Income
59.68% above the market average59.68% above the market average59.68% above the market average59.68% above the market average59.68% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Growth
84.48% above the market average84.48% above the market average84.48% above the market average84.48% above the market average84.48% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 7
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Drax Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 18-Apr-19
Paid 11-Oct-19 10-May-19
Amount 6.40p 8.50p

Trades for 06-Dec-2019

Time Volume / Share Price
17:38 113,539 @ 287.69p
16:35 310,519 @ 289.20p
16:29 31 @ 288.60p
16:29 270 @ 288.60p
16:29 144 @ 289.00p

Drax Group Key Personnel

Chair Philip Cox
CEO Will Gardiner
CEO Andy Koss
CFO Andy Skelton

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