FinanceLow Carbon

Drax finalises carbon removals deal

Drax Group and C-Zero Markets have finalised a deal to purchase carbon dioxide removal credits

Drax Group announces carbon removals deal with C-Zero Markets.

The agreement involves C-Zero purchasing 2,000 metric tonnes of carbon dioxide removals (CDRs) credits from Drax.

This deal, which transforms a previous memorandum of understanding into a firm offtake agreement, is linked to Drax’s forthcoming deployment of bioenergy with carbon capture and storage (BECCS) in the US.

Laurie Fitzmaurice, President, Carbon Removals at Drax, said: “As those deadlines approach, experts predict demand will soar for CDRs that are credible, quantifiable, and auditable – like those provided through BECCS by Drax – making now the smartest time to invest.”

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