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UK's Drax completes acquisition of Canadian wood pellet company Pinnacle


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The acquisition, proposed in February, increases Drax s annual operational capacity to 4.9 million mt of biomass pellets from 2022, at 17 plants in locations across Western Canada and the US South, up from 1.6 million mt at present.
As well as making Drax an international supplier of sustainable biomass, this deal advances our strategy to increase self-supply, reduce our own biomass production cost and create a long-term future for sustainable bioenergy, said Drax chief executive Will Gardiner.
On Feb. 8, Drax s proposed acquisition of Pinnacle valued the company at C$385 million ($306 million), with an implied enterprise value of C$741 million, including C$356 million of net debt. ....

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Major blueprint to create green jobs and slash emissions from industry, schools and hospitals


Major blueprint to create green jobs and slash emissions from industry, schools and hospitals
An ambitious blueprint to deliver the world’s first low-carbon industrial sector and over £1 billion to cut emissions from industry, schools and hospitals has been announced by the Business and Energy Secretary.
From:
17 March 2021
Over £1 billion allocated to drive down emissions from industry and public buildings like schools, hospitals and council buildings
new Industrial Decarbonisation Strategy sets vision for world’s first low carbon industrial sector, slashing emissions by two-thirds in just 15 years
package of measures will put the UK at the forefront of the global green industrial revolution, creating and supporting up to 80,000 jobs over the next 3 decades ....

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