- Drax has agreed the sale of Billington Bioenergy (BBE) - a distributor of wood pellets in the UK heating market - to Aggregated Micro Power Holdings, an AIM listed energy company specialising in the sale of wood fuels and the development of distributed energy assets, including biomass boilers and battery storage. Drax said the consideration for the transaction was £2m, comprised of £1.6m of shares in AMPH and £0.4m of cash. Drax said the sale was aligned with its retail strategy, focused on the I&C and SME energy markets.

However, through its shareholding in AMPH, Drax would retain an interest in the UK heating market, while gaining exposure to the development of small-scale distributed energy assets.

Chief executive Dorothy Thompson said: 'We are pleased with the sale of BBE and our investment in AMPH.

'With their leadership in the UK wood pellet heating market, we believe they are the right partner to take forward and grow BBE, whilst supporting the UK's transition to a low carbon economy." 'We look forward to working with AMPH.'

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