Summit Carbon Solutions just announced that the launch of its planned CO2 pipeline project will be delayed until 2026, as reported by Bloomberg.
Initially, Summit planned to have the carbon pipeline project operational already in 2024, however, it has faced a number of setbacks along the way, causing the company to postpone the official launch for another two years.
Namely, the project has faced opposition from environmental groups and organizations, and failed to meet certain regulatory requirements, which resulted in permit denials in some states.
The delay was announced by Bruce Rastetter, CEO of Summit Carbon’s parent, Summit Agriculture Group, in an interview for Bloomberg earlier this week.
Summit Carbon Solutions’ 2,000-mile CO2 pipeline project would be among the largest of its kind, valued at $5.5 billion and passing through five US states, including Iowa, North and South Dakota, Nebraska, and Minnesota.
The pipeline would connect ethanol producers and transport their captured CO2 emissions to sites for underground permanent storage.