Drax: Pellet production up 54% in 1H 2022

Drax Group plc released financial and operational results for the first half of 2022, reporting significant increases in both operating profit and wood pellet production when compared to the same six-month period of 2021.

Drax produced approximately 2 million metric tons of wood pellets during the first half of this year and shipped 2.4 million metric tons. The company produced and shipped 1.3 million metric tons of pellets during the same period of 2021. An estimated 1 million metric tons of wood pellets were sold to third parties during the first half of 2022, up from 400,000 metric tons during the same period of last year.