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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Drax - Exciting renewables play on soon-to-be PE of 6

February 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DRX
  • Price:
  • 589p
Bioenergy with Carbon Capture and Storage - better known by the acronym BECCS - has come to be seen as one of the most viable and cost effective negative carbon emission technologies. As I describe, a BECCS process produces hydrogen from biomass and waste, while capturing and storing the carbon released during the process. Drax Group, the UK’s largest renewable energy supplier, has seen its share price sky rocket from its 157p low last March to 533p (see graph) since announcing its investment into two new BECCS generation plants. Drax’s origins can be traced back to 1967 when the Drax power station was built to process coal from the adjacent Selby coalfield, a large scale deep underground mine complex in Yorkshire. Two decade ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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