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 James Drax Sir James Drax (d. 1662) was a Barbados plantation owner who accumulated extraordinary wealth as a pioneer of the sugar trade in the English colonies. The Caribbean sugar plantations established by James Drax and those who followed his example would be at the epicenter of the growing British and French empires, helping to fuel economic growth and imperial expansion. James Drax was the son of William Drax, a gentleman of the village of Finham, in the parish of Stoneleigh, Warwickshire. In the late 1620s, James Drax became one of the earliest English migrants to the island of Barbados: