Drax Group plc (DRX)

Profile

https://www.drax.com

Drax Group plc is a leading UK-based renewable energy company specializing in power generation, sustainable biomass pellet production, and carbon dioxide removal technologies. Its primary function is to generate renewable electricity, primarily through biomass at the Drax Power Station in North Yorkshire—the UK's largest single source of renewable power—and pumped hydro storage at Cruachan Power Station in Scotland. The company produces compressed wood pellets from sustainably sourced forest residues at manufacturing facilities across the United States and Canada, supplying its own operations and customers in Europe and Asia. Drax Group plc also engages in bioenergy with carbon capture and storage (BECCS), positioning it as a pioneer in 24/7 renewable power and negative emissions to combat climate change. With a portfolio including flexible generation assets like hydro and planned gas turbines, it supports grid stability and energy security amid the transition from fossil fuels. Listed on the London Stock Exchange and part of the FTSE 250 Index, Drax plays a pivotal role in the global push toward net zero by replacing coal with low-carbon alternatives and advancing decarbonization in hard-to-abate sectors.