May 16, 2018

Enel and InnoCentive sign agreement to meet sustainability goals set by the UN

Europe
Sustainability
Sophie Chapman
2 min
The Italian gas and electricity firm, Enel, has partnered with the innovation and crowdsurfing company, InnoCentive, in order to achieve four...

The Italian gas and electricity firm, Enel, has partnered with the innovation and crowdsurfing company, InnoCentive, in order to achieve four of 17 sustainability goals set by the UN.

The firms will work together to ensure Enel achieves the Sustainability Development Goals (SDG) 4, 7, 8, and 13.

SDG 4 focuses on quality education, with SDG 7 addressing affordable and clean energy, SDG 8 working towards work and economic growth, and SDG 13 targeting climate action.

As part of the signed agreement, InnoCentive will identify 50 technology-challenges to aid Enel’s goal of efficiency and industrial growth.

Once the challenges are identified it will use its network of 380,000 problem solvers to create solutions to achieve the goals.

Through this partnership, we are reaffirming our practice of embracing ‘innovability’, bringing together innovation and sustainability, to address technological challenges whose solutions are expected to create value for Enel while tackling some of the world’s major issues, reflected in the four SDGs we are committed to,” stated Ernesto Ciorra, Head of Innovability at Enel.

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“This is yet another example of the intrinsic relationship between innovation, sustainability and value creation, for us and our stakeholders.”

“We cannot create value for ourselves if we do not create sound economic and social conditions for our stakeholders, but if we want to create this shared value we must innovate, and we cannot innovate if we are not open to input from the world around us.”

“This is the virtuous circle at the foundation of Enel’s approach and perfectly embodied in the partnership with InnoCentive.”

We are proud to partner with Enel, a company that places innovation and sustainability at the core of its business, and we praise their commitment to achieving four of the UN’s Sustainable Development Goals (SDGs),” commented Craig Jones, Executive Chairman of InnoCentive.

“Their organization is a perfect partner for InnoCentive and the issues they seek to address are ideal for our Challenge Driven Innovation methodology.”

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Apr 23, 2021

Drax advances biomass strategy with Pinnacle acquisition

Drax
Biomass
Sustainability
BECCS
Dominic Ellis
2 min
Drax is advancing biomass following Pinnacle acquisition it reported in a trading update

Drax' recently completed acquisition of Pinnacle more than doubles its sustainable biomass production capacity and significantly reduces its cost of production, it reported in a trading update.

The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.

The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).

Drax CEO Will Gardiner said its Q1 performance had been "robust", supported by the sale of Drax Generation Enterprise, which holds four CCGT power stations, to VPI Generation.

This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.

In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.

The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.

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