Summit Ag Group launches world’s largest CCS project; to reduce carbon footprint of biorefineries by up to 50%
21 February 2021
Summit Agricultural Group, a diversified agribusiness operator and investment manager with operations in the United States and Brazil, has created Summit Carbon Solutions (SCS), a new business platform that will develop the world’s largest carbon capture and storage (CCS) project. Expected to be operation in 2024, the Summit Carbon Solutions CCS project will significantly lower the carbon footprint of biorefineries and other carbon dioxide emission sources throughout the Midwestern region of the United States.
When fully developed, Summit Carbon Solutions will have an infrastructure network (pipeline and injection wells) capable of capturing and permanently storing more than 10 million tons of carbon dioxide annually in underground saline formations in North Dakota—equivalent to taking 2 million cars off the road per year. In addition to the project’s positive environmental impact, it will enhance the economic sustainability of the biofuels and agriculture industries, while providing tremendous benefits to communities across the Midwest in the form of significant private investment and job creation.
Summit Carbon Solutions has partnered with a select group of leading biorefiners located in Iowa, Minnesota, South Dakota, and North Dakota to execute the first phase of the project, which will put them on the path of ultimately delivering a net-zero-carbon fuel. In addition to biorefiners, Summit Carbon Solutions will partner with other industries throughout the Midwest that have carbon reduction goals to help them capture and store their carbon emissions.
Summit Carbon Solutions is proceeding with initial engineering, design and permitting associated with the project, which will permanently store carbon dioxide in underground saline geologic formations.
Green Plains Inc. announced that three of its biorefineries have entered into a long- term carbon offtake agreement with SCS.
Green Plains will initially connect the biorefineries at Fairmont, Minn., Fergus Falls, Minn. and Superior, Iowa, and have the option to expand to additional locations as the pipeline network grows.
Green Plains will make an initial investment in Summit Carbon Solutions to help fund the development of the project.