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Drax to Acquire Pinnacle Renewable Energy – a Major Canada-Based International Supplier of Sustainable Biomass Fuel Inbound investment signals a vote of confidence in Pinnacle’s expertise in sustainable wood pellet production in Canada and the Southern US Combination positioned as the world’s leading sustainable biomass generation and supply business /EIN News/ SELBY, United Kingdom, Feb. 08, 2021 (GLOBE NEWSWIRE) British energy company Drax has agreed to acquire Pinnacle at a price of C$11.30 per share, valuing Pinnacle at C$385 million. The acquisition brings together Drax, which owns the world’s largest sustainable biomass power station in the UK, with Pinnacle, one of the leading global producers of high-quality compressed wood pellets. This Canadian-UK combination will be positioned as the world’s leading sustainable biomass supply and power generation business.

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