Drax: Yorkshire power station operator to acquire Scottish firm in boost to battery storage plans
North Yorkshire power station operator Drax has signed an agreement to acquire Scottish firm Flextricity Limited, in a move Drax said would support its plan to develop a giggawatt-scale pipeline of battery energy storage system (BESS) opportunities.
Founded in 2004, Flexitricity provides optimisation and route-to-market services to owners of flexible energy assets. The Edinburgh-based firm employs around 85 people, who will join Drax as part of the acquisition.
Drax said the transaction values Flexitricity at £36m, subject to customary closing adjustments
It comes as Drax continues to develop its FlexGen, flexible energy production business.
Drax Group CEO, Will Gardiner, said: "We are pleased to announce the acquisition of Flexitricity. We are ambitious about growing and developing our FlexGen business and Flexitricity's technology and team are a strong strategic fit for us.
"Adding Flexitricity's expertise and capability which uses AI and advanced machine learning software, delivered via their proprietary platform, supports our options for growth, particularly in our plans for a gigawatt scale BESS portfolio as a part of our FlexGen business, while continuing to provide energy security to the UK power system and delivering new energy services for our customers.”
In December, Drax announced its plans to convert part of its North Yorkshire power plant into a datacentre. The firm said this could happen as soon as 2027, with the move coming in response to the increase in demand for AI capability.
The firm said in December that it would apply for planning permission to build a 100-megawatt datacentre at its Selby site.
An application was then later submitted to North Yorkshire Council