Drax and Patch Join Forces to Revolutionize Carbon Credit Access
Drax Group partners with climate tech company Patch to enhance the carbon market's future
Drax Group, a front-runner in carbon removals and renewable energy, has unveiled an exciting collaboration with Patch, a pioneering climate technology firm dedicated to shaping the digital landscape of the carbon market.
Drax and Patch: Innovators in Carbon Markets
Drax Group is on a mission to enable a zero-carbon, more affordable energy future. Their focus on bioenergy with carbon capture and storage (BECCS) positions them to become carbon negative by 2030. Drax operates across three key areas: electricity generation, electricity sales to business customers, and the production and supply of compressed wood pellets.
Patch stands at the forefront of developing the digital infrastructure for the future carbon market. Its software brings corporate buyers, project developers, financiers, and policymakers together, enhancing transparency and modernizing climate action. With over 400 million tonnes of carbon actively managed on Patch, the platform streamlines operations, enabling project developers to scale their impact. Patch offers a broad range of vetted carbon credits to corporate buyers, providing a crucial resource for climate-conscious businesses.
A Seamless Pathway to Carbon Credits
Patch, known for its innovative software, empowers voluntary carbon market participants to efficiently purchase, sell, and manage credits. This partnership introduces Patch's Radius software solution to Drax customers, offering them a streamlined process for acquiring portfolios of carbon credits, including those originating from Drax's bioenergy with carbon capture and storage (BECCS) technology.
Drax aspires to lead the world in carbon removals through the deployment of BECCS, with the ambitious goal of capturing 14 million metric tonnes of carbon removals annually by 2030. By aligning with Patch, this partnership aims to accelerate the carbon market and facilitate carbon credit sales, making it accessible to companies of all sizes striving to meet their climate objectives.
Marc Bradbrook, SVP Business Development at Drax, underlines the pivotal role of a robust carbon market in deploying technologies like BECCS. He expressed his enthusiasm, saying, "We are delighted to be entering a partnership with Patch, which we hope will enable us to better engage with customers in the carbon credit market and scale this critical industry."
Meeting the Growing Demand for High-Integrity Credits
The demand for high-integrity carbon credits is on the rise as organizations worldwide commit to ambitious decarbonization targets. Drax leverages Patch's software to facilitate the sale of BECCS by Drax credits to its customers. Additionally, Drax intends to submit BECCS by Drax credits for evaluation against Patch's project acceptance criteria. Once approved, these credits will be accessible to Patch's extensive network of customers.
Jan Mertens, VP of Global Revenue at Patch, expresses his excitement regarding the partnership. He highlights the significance of Drax's commitment to offer a seamless pathway to carbon credits, allowing companies to explore a wide range of opportunities.
A Commitment to Climate Goals
Drax's agreements, such as those with Respira for up to two million metric tonnes of carbon removals and C-Zero, demonstrate the company's dedication to addressing the climate crisis. This collaboration with Patch reinforces Drax's commitment to managing gigatons of carbon dioxide, aligning with the goals of the Paris Agreement.
Advancing Carbon Market Forward
The partnership between Drax and Patch marks a significant stride forward in the voluntary carbon market. By making high-integrity carbon credits more accessible, it contributes to the global effort to combat climate change. As companies worldwide intensify their pursuit of climate goals, this collaboration offers a promising advancement in the collective fight against climate change on a global scale.