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
Drax, North Yorkshire born at Darlton, Notts. and became a wealthy shipper in Kingston upon Hull. Two years later, Read's will endowed the school at Drax and founded further grammar schools at Tuxford in Notts. and Corby Glen in Lincolnshire. Read also funded the building of six almshouses in Drax for elderly people, stipulating that they should be for three men and three women. Drax had two railway stations: both are now closed. Drax Hales railway station was on the North Eastern Railway's (NER) Selby to Goole Line: British Railways closed it in 1964. Drax Abbey was on the Hull and Barnsley Railway