Drax has signed an agreement to acquire Flexitricity from Quinbrook. The transaction values Flexitricity at £36 million. Completion is expected in Q1 2026.
Founded in 2004, Flexitricity provides optimisation and route-to-market services to owners of flexible energy assets, via its proprietary controls platform, enabling their participation in the wholesale energy, balancing and ancillary services markets. Flexitricity provides both front-of and behind-the-meter solutions for grid scale assets as well as demand response services to over 900MW of operational assets, primarily batteries, gas peakers, renewables and demand-side response.
Drax said Flexitricity’s scalable platform would support its plans to develop a GW-scale pipeline of batteries, comprising both physical assets and the capability to optimise third-party assets. Drax Energy Solutions currently provides a route to market for around 2,000 embedded third-party renewable assets totalling 800MW.
Flexitricity is based in Edinburgh and its 85 staff will join Drax.