Drax power station build a 626 MW oxygen-fuelled combustion power station adjacent to the existing Drax site. National Grid would simultaneously construct a pipeline to transport to the Yorkshire coast for sequestration. In July 2014 the project was awarded €300 million funding from the European Commission. In September 2015 Drax announced it would not be making any further investments into the CCS scheme after completion of the feasibility study because negative changes to government support for renewable energy had made the project too financially risky, plus drops in the company's share price due to the same uncertainty had reduced Drax's ability to raise
James Drax he and his companions arrived and lived for a time in a cave, hunting for provisions, and clearing land for the planting of tobacco, which soon became the staple crop of the island. Drax later claimed that he had arrived with a stock of no more than £300, and that he intended to stay on the island until he had parlayed that initial investment into a landed fortune worth £10,000 a year back home. By the late 1630s, Drax had accumulated a substantial portion of land on Barbados, together with his brother William Drax. Owing to a slump in tobacco