About Drax
Drax is a company based in Selby (United Kingdom) founded in 2005. It operates as a Green Energy-as-a-Service, and Direct-to-Consumer (D2C). The company has 3,240 employees as of December 31, 2024. Drax has completed 3 acquisitions, including BMM Energy Solutions, HEIT and Pinnacle Renewable Energy. Drax offers products and services including Bioenergy with Carbon Capture and Storage (BECCS), Pellet Sales, and Pumped Storage Hydro.
- Headquarter Selby, United Kingdom
- Employees 3240 as on 31 Dec, 2024
- Stage Public
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Sectors
Energy & Utilities
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Drax Group Plc
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Annual Revenue
$7.62 B (USD)-18.38as on Dec 31, 2024
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Net Profit
$659.79 M (USD)-6.33as on Dec 31, 2024
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EBITDA
$1.33 B (USD)25.81as on Dec 31, 2024
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Latest Funding Round
$434.79 M (USD), Grant
Oct 01, 2020
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Investors
Gov.uk
& 1 more
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Employee Count
3240
as on Dec 31, 2024
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Investments & Acquisitions
BMM Energy Solutions
& 2 more
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IPO & Listings of Drax
Drax is a publicly listed company on the LSE with ticker symbol DRX in UK, operating in the Utilities sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Drax
Drax offers a comprehensive portfolio of products and services, including Bioenergy with Carbon Capture and Storage (BECCS), Pellet Sales, and Pumped Storage Hydro. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Carbon dioxide is captured during bioenergy production process.
Biomass pellets are sold for energy generation purposes.
Hydroelectric energy is generated through pumped storage systems.
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Software Development Team
43 people
Finance and Accounting
25 people
Leadership Team
20 people
Head Team
16 people
Legal and Compliance
16 people
Senior Team
14 people
Product Management Team
13 people
Project Team
9 people
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Funding Insights of Drax
- Total Funding Total Funding
- Total Rounds 11
- Last Round Grant — $434.8M
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First Round
First Round
(23 Jun 2009)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2020 | Amount | Grant - Drax | Valuation |
investors |
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| Jun, 2020 | Amount | Grant - Drax | Valuation |
investors |
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| Mar, 2020 | Amount | Grant - Drax | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Drax
Drax has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Gov.uk and European Union. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Online government services and information are provided to users.
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Founded Year | Domain | Location | |
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Drax
Drax has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include BMM Energy Solutions, HEIT and Pinnacle Renewable Energy. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Electric vehicle charging services
|
2005 | ||||
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Wood pellets are produced for commercial heating applications.
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1989 | ||||
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Investment opportunities in infrastructure and private equity are facilitated by HEIT for various investor segments.
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0 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Drax
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Drax Comparisons
Competitors of Drax
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Drax
Frequently Asked Questions about Drax
When was Drax founded?
Drax was founded in 2005 and raised its 1st funding round 4 years after it was founded.
Where is Drax located?
Drax is headquartered in Selby, United Kingdom.
Who is the current CEO of Drax?
Will Gardiner is the current CEO of Drax.
How many employees does Drax have?
As of Dec 31, 2024, the latest employee count at Drax is 3,240.
What is the annual revenue of Drax?
Annual revenue of Drax is $7.62B as on Dec 31, 2024.
What does Drax do?
A zero carbon energy future is pursued by Drax through innovative engineering and technology. Biomass sourcing, bioenergy with carbon capture and storage (BECCS), and pumped storage hydro solutions are developed. Operations span across the United Kingdom, Canada, the United States, and Japan. Sustainable practices are emphasized in energy generation and carbon removal. Community support and STEM education are also prioritized through the Drax Foundation.
What products or services does Drax offer?
Drax offers Bioenergy with Carbon Capture and Storage (BECCS), Pellet Sales, and Pumped Storage Hydro.
Is Drax publicly traded?
Yes, Drax is publicly traded on LSE under the ticker symbol DRX.
How many acquisitions has Drax made?
Drax has made 3 acquisitions, including BMM Energy Solutions, HEIT, and Pinnacle Renewable Energy.
Who are Drax's investors?
Drax has 2 investors. Key investors include Gov.uk, and European Union.
What is Drax's ticker symbol?
The ticker symbol of Drax is DRX on LSE.
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