POET, the world’s largest ethanol producer, and Summit Carbon Solutions have announced their partnership on what may be the largest carbon capture and storage (CCS) project.
Summit Carbon Solutions is currently in the process of obtaining the necessary permits and easements from landowners to move forward with its 2,000 mile-long carbon capture pipeline project.
The pipeline is set to cross five US states and transport captured CO2 emissions from ethanol producers to permanent carbon storage sites.
By joining the Summit Carbon Solutions project, POET will facilitate the capture, transportation and subsequent storage of a massive 4.7 million metric tons of carbon dioxide generated from the company’s 17 bioprocessing plants every year.
The announcement comes only months after Navigator CO2, another carbon pipeline developer, whose project was backed by POET, withdrew its permit applications and scrapped the project altogether.
Hence, the move can be seen as a clear signal for the strong push for carbon capture, particularly as a means of decarbonizing the emissions-intensive ethanol industry.
Jeff Broin, POET Founder and CEO, commented: “POET is excited to partner with Summit Carbon Solutions on this historic project.”
“As the world seeks low-carbon energy solutions, carbon capture ensures that ag-based biofuels will remain competitive for decades to come. This is a tremendous opportunity to bring value to farmers, bioethanol producers, and rural communities and counties in participating states, and I believe it will unleash even more opportunities for ag and bioprocessing in the future,” Broin said.
“Our partnership with POET is creating new economic opportunities in agriculture,” said Lee Blank, CEO of Summit Carbon Solutions.
“This initiative is aimed at enhancing the financial profitability of our farmers, contributing to higher land values, and ensuring a more prosperous future for farm families and communities. Our focus is on tangible benefits that directly support the backbone of our nation’s agricultural industry.”