REG - Drax Group Plc - Acquisition of Asset Optimisation Platform

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RNS Number : 6709P  Drax Group PLC  21 January 2026

21 January 2026

 

Drax Group plc

("Drax"; "The Group"; Symbol: DRX)

 

Acquisition of asset optimisation platform

 

Drax is pleased to announce that it has signed an agreement to acquire
Flexitricity Limited ("Flexitricity"), a UK-based optimiser of flexible energy
assets, from Quinbrook((1)). The transaction values Flexitricity at £36
million, which is subject to customary closing adjustments. Completion is
expected in Q1 2026 and is conditional on completion of regulatory approvals
and processes((2)).

 

The transaction is expected to support returns significantly in excess of
Drax's WACC.

 

Founded in 2004, Flexitricity provides optimisation and route-to-market
services to owners of flexible energy assets, via its proprietary controls
platform, enabling their participation in the wholesale energy, balancing and
ancillary services markets. Flexitricity provides both front-of and
behind-the-meter solutions for grid scale assets as well as demand response
services to over 900MW of operational assets, primarily battery energy storage
systems ("BESS"), gas peakers, renewables and demand-side response.

 

Flexitricity's scalable platform is expected to support the Group's plans to
develop a GW scale pipeline of BESS((3)) opportunities comprised of (i)
physical assets and (ii) the capability to optimise third-party assets with
the provision of route to market, floor and tolling structures. Drax already
provides a route to market for c.2,000 embedded third-party renewable assets
with capacity of c.800MW via its Drax Energy Solutions business.

 

Flexitricity is based in Edinburgh (Scotland) and employs c.85 people, who
will join Drax as part of the acquisition.

 

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 GW 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.

 

"I would also like to welcome Flexitricity's employees to the Group and its
customers who we look forward to working with and continuing to serve
following completion of the acquisition."

 

Notes:

 

(1)  Quinbrook is a UK-based global investment manager focused on the energy
transition.
https://www.quinbrook.com/ (https://www.quinbrook.com/)

(2)  Ofgem and National Security and Investments Act 2021.

(3)  On 11 December 2025 Drax outlined an ambition to develop a GW scale
pipeline of BESS opportunities.

Trading Update - 07:00:06 11 Dec 2025 - DRX News article | London Stock
Exchange
(https://www.londonstockexchange.com/news-article/DRX/trading-update/17368366)

 

 

Enquiries

Drax Investor Relations:

Mark Strafford

mark.strafford@drax.com

+44 (0) 7730 763 949

 

 

Chris Simpson

Chris.Simpson@drax.com (mailto:Chris.Simpson@drax.com)

+44 (0) 7923 257 815

 

Media:

Drax External Communications:

Chris Mostyn

chris.mostyn@drax.com

+44 (0) 7743 963 483

 

Website: www.drax.com (http://www.drax.com/)

 

END

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