The Summit Agricultural Group has announced the creation of Summit Carbon Solutions - a new business platform that will address the global challenge of decarbonisation.
This will be done by developing the world’s largest carbon capture and storage project. In doing so, Summit Carbon Solutions will dramatically lower the carbon footprint of biorefineries and other carbon dioxide emission sources throughout the Midwestern region of the US.
When fully developed, it will have an infrastructure network capable of capturing and permanently storing more than 10 million tonnes of carbon dioxide annually.
Summit Carbon Solutions has partnered with a 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 delivering net-zero carbon fuel.
“This is a giant leap forward for the biofuels industry,” said Bruce Rastetter, CEO of Summit Agricultural Group. “Carbon capture and storage is a future-focused solution that allows the biorefiners to lower their already attractive carbon footprint by up to 50%.”
“Simply put, this will be the most impactful development for the biofuels industry and Midwestern agriculture in decades. We are grateful for our partnership with a significant group of forward-thinking biorefiners who have agreed to partner with us on this exciting new venture.”
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.
“Summit Carbon Solutions is a truly transformational project,” said Summit Ag Investors president Justin Kirchhoff. “This opportunity helps satisfy the urgent global need to decarbonise and meets the ever-growing demand for low carbon fuels by collaborating with leading biorefineries to capture and store carbon on a scale not yet achieved anywhere in the world.”
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