Drax launches US-based carbon removal business

Drax Group has announced plans to establish a new business unit that will focus on delivering large-scale carbon removals.

Large-scale carbon removals, including bioenergy with carbon capture and storage (BECCS), are regarded as a critical part of meeting the climate challenge.

To this end, the business aims to use Drax's expertise in BECCS to remove at least 6Mt of CO2 from the atmosphere annually.

Drax chief executive Will Gardiner said: "We have a limited window of opportunity to capitalise on our first mover advantage and I am confident that the time is right for this approach.

“The new entity will bring focus and will scale the company’s ability to deliver carbon removals to organisations looking to reduce their carbon footprints.

"Delivering the ambitious targets will see the new entity become a leader in the growing carbon trading market.”

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The business will be operationally separate within the Drax Group and headquartered in Houston, US. It will be led by senior energy infrastructure expert Laurie Fitzmaurice and formally launched later this year.

Fitzmaurice and her team will be responsible for delivering BECCS projects within the US and abroad, as well as collaborating with partners to advance the deployment of CO2 removal technology.

She said: "We have enormous potential to play a significant role in tackling climate change and improving the lives of millions of people across the world.

“By working with a coalition of partners, together we can accelerate the rate at which we are able to scale carbon removals and I encourage stakeholders who are keen to deliver on this ambition to work with us.”

Big BECCS plans in the UK

The UK government recently granted planning approval for Drax’s plans to install BECCS onto its power station in Yorkshire.

Drax Power Station currently has four biomass generating units and produces around 4% of the country’s power and 9% of its renewable electricity.

According to the energy company, cost savings from carbon removals from BECCS at the Drax Power Station are projected to be equivalent to £700 million per year from 2030 to 2050.

Also, the annual amount of carbon captured by the project would be equivalent to taking 3 million cars off the road or cancelling all annual departing flights from Heathrow.