Anew Climate Teams Up With Summit Carbon On Megaton Carbon Removal Project

Anew Climate Teams Up With Summit Carbon On Megaton Carbon Removal Project - Carbon Herald

Anew Climate, a company at the forefront of tackling climate change through various solutions, announced a new collaboration with Summit Carbon Solutions, the leader in developing large-scale projects to capture and store carbon emissions from biological sources. 

This agreement involves Anew Climate marketing carbon removal credits created by Summit Carbon ‘s innovative Biomass with Carbon Removal and Storage (BiCRS) project. 

BiCRS aims to remove and permanently store over 160 million tons of carbon dioxide emissions produced by more than 50 biorefineries in the Midwest over the next ten years.

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“High-quality carbon dioxide removals are intensely sought after by buyers in the voluntary carbon market who are pursuing climate investments with lasting geologic permanence as part of their comprehensive strategies,” said Angela Schwarz, Anew Climate Chief Executive Officer. 

“We anticipate significant demand for CDRs in this first-of-its-kind project at scale. We are pleased to be working with Summit Carbon in this important new CDR market that helps remove carbon dioxide from the atmosphere and is a vital path to mitigate climate change.”

Removing CO2 at megaton scale

Summit Carbon’s massive $8 billion infrastructure project is expected to capture over 16 million tons of waste biogenic CO2 emissions every year. 

These emissions are typically released back into the atmosphere during the process of bioethanol production. 

The captured emissions will be stored permanently deep underground in North Dakota. This project will be the first technology-based carbon removal effort to exceed the milestone of 1 million metric tons captured, and selling these credits in advance is essential to achieving its full potential for climate impact.

Lee Blank, CEO of Summit Carbon Solutions, said: “As we deliver the world’s largest carbon dioxide removal project, we’re not only removing carbon, but also paving the way for bioethanol producers to access new markets, such as Sustainable Aviation Fuel, and securing a sustainable future for agriculture and energy.”

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“We’re excited to partner with Anew Climate, a leader in the global voluntary carbon market, whose expertise will be crucial in realizing the full potential of our initiatives.”

This project will be the first to use a new BiCRS methodology approved by the Gold Standard for the Global Goals (GS4GG) – Biomass Fermentation with Carbon Capture and Storage. 

GS4GG is a leading international registry that verifies and generates carbon removal credits, ensuring project quality, stakeholder involvement, necessary safeguards, and alignment with sustainable development goals.

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