Drax has been selected to take part in the government’s Global Investment Summit next week - showcasing the best of British renewable energy innovation.
Hosted by the Prime Minister and members of the Royal Family next week, the green carpet is being rolled out to stimulate foreign backing in pioneering activity.
As one of a dozen participants, and the only one in the north, Drax will demonstrate its multi-billion-pound innovative negative emissions technology, bioenergy with carbon capture and storage (BECCS).
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It permanently removes carbon dioxide from the atmosphere and will be needed for the 海角视频 to reach its climate targets cost effectively. It will also play a vital role in decarbonising the 海角视频’s industrial sector, as a start point for the grand Zero Carbon Humber network, feeding into a wider East Coast Cluster that embraces the Tees.
Will Gardiner, Drax Group chief executive, said: “The 海角视频 has a once in a generation opportunity to develop the innovative green technologies which will play a crucial role in tackling the climate crisis. Drax has already transformed itself from the biggest coal-fired power station in western Europe into one of Europe’s lowest carbon utilities and we are now pioneering vital negative emissions technology that will enable us to become the largest carbon capture in power project in the world.
“By leading on the development and introduction of BECCS, the 海角视频 can kickstart a new global industry, delivering tens of thousands of jobs and supporting a new green economy.
“Drax stands ready to invest in this vital technology – work to build BECCS at Drax could get underway as soon as 2024, delivering for the 海角视频 economy and the climate.”
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Hundreds of the world’s leading businesses and ‘investment A-listers’ are anticipated in London and at Windsor Castle.
The summit will also drive forward the Prime Minister’s 10-point plan for a green recovery, demonstrating how £12 billion of government investment is creating and supporting up to 250,000 highly-skilled green jobs in the 海角视频, spurring more than three times as much private sector investment by 2030.
It will also seek to underline why the 海角视频 is a global hub for green technology and finance, and make the case for global investment in 海角视频 companies.
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Minister for Investment, Gerry Grimstone, said: "The Global Investment Summit will put 海角视频 innovation on the map and demonstrate how we can use investment to nurture technological developments and propel our economy towards a more prosperous, exciting future.
"Our showcase businesses show why the 海角视频 is a global hub for green technology, and I am proud that Drax will be presenting their innovative bioenergy with carbon capture and storage technology to some of the world's most high-profile investors at the summit.
"Our industries of the future like renewable energy will not only help ensure a cleaner, greener planet but also create high value jobs in Yorkshire and across the 海角视频."
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It comes after head of the Humber's place-marketing organisation, Bill Walker, wrote to major global investors outlining the region's pioneering decarbonisation intent. A collaborative web platform has also been established to highlight the opportunties.
As well as deploying BECCS at Drax, the renewable energy company is also exploring opportunities to deploy this vital negative emissions technology internationally, demonstrating climate leadership ahead of COP26 in Glasgow.
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