Drax Completes Acquisition of Pinnacle Renewable Energy Inc
b'VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Pinnacle Renewable Energy Inc., the Canada-based international supplier of sustainable bioenergy pellets, and British energy company Drax Group plc have announced that Drax\xe2\x80\x99s acquisition of Pinnacle (first announced on February 8, 2021) has completed.\nThe acquisition received overwhelming support from both sets of shareholders with 95.97% of Pinnacle\xe2\x80\x99s and 99.99% of Drax\xe2\x80\x99s shareholders voting in favour.
- b'VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Pinnacle Renewable Energy Inc., the Canada-based international supplier of sustainable bioenergy pellets, and British energy company Drax Group plc have announced that Drax\xe2\x80\x99s acquisition of Pinnacle (first announced on February 8, 2021) has completed.\nThe acquisition received overwhelming support from both sets of shareholders with 95.97% of Pinnacle\xe2\x80\x99s and 99.99% of Drax\xe2\x80\x99s shareholders voting in favour.
- It makes Drax the world\xe2\x80\x99s leading sustainable bioenergy generation and supply business.
- Committed to ensuring the safe, efficient and sustainable operation of the enlarged group, Drax intends to invest in Pinnacle to deliver this outcome.\nWill Gardiner, Chief Executive Officer of Drax, said:\n\xe2\x80\x9cThis is an exciting and important acquisition which positions Drax as the world\xe2\x80\x99s leading sustainable bioenergy generation and supply business.
- I am delighted to welcome our new Pinnacle colleagues to the Drax family.