British Steel has signed an agreement with Drax to build multi-billion-pound carbon capture project at Drax’s power station in the UK.
The Memorandum of Understanding (MoU) brings together two major British industries to support the development of bioenergy with carbon capture and storage (BECCS), a technology, which could kick-start a whole new sector of the economy and create opportunities for the UK to lead the world in a vital technology required to address global warming.
Through the partnership, Drax and British Steel aim to support efforts to meet the UK’s climate targets and level up the North, whilst supporting skills within the steel sector.
BECCS is a critical technology needed to combat global warming because it permanently removes carbon dioxide from the atmosphere whilst also generating reliable, renewable electricity.
Drax is ready to invest around £2bn in its plans to build BECCS in the UK. Work could get underway as soon as 2024.
Drax’s BECCS project could capture 8 million tonnes of CO2 a year from 2030, making it the largest carbon capture and storage project in the world.
