Summit Carbon Announces New Shipper for its Carbon Capture Project

Source: www.gulfoilandgas.com 3/4/2024, Location: North America

In a significant development for the advancement of low-carbon fuel production, Summit Carbon Solutions (Summit) announced today that Valero, the world's second-largest corn ethanol producer and a leader in low-carbon transportation fuels production, will be a shipper on Summit's pipeline, as part of the largest proposed carbon capture and storage project in the world. This collaboration underscores a commitment to reliable energy, growing markets for Midwest fuel and grain, and support for rural communities.

Eight of Valero's ethanol facilities across Iowa, Nebraska, Minnesota, and South Dakota are expected to be incorporated into Summit's project. Participation from these eight facilities adds 1.1 billion gallons of ethanol per year and will lead to the capture of 3.1 million metric tons of CO2 annually. This will reduce the carbon intensity of ethanol production and further open access to low-carbon fuel markets.

"I am excited to welcome one of the premier energy companies in the world into our project, bringing in a new era where agricultural innovation and energy market expansion go hand in hand," said Bruce Rastetter, Founder and Executive Chairman of Summit Agricultural Group. "By integrating Valero's facilities into this project, we will make major strides in providing more than a billion gallons of low-carbon fuels to a marketplace hungry for the product. This project ensures the agriculture and biofuels industries will remain dynamic and competitive, meeting the needs of today while preparing for the opportunities of tomorrow."

"I view our project, as representing a meaningful shift in agriculture to lower the carbon intensity of biofuel products," said Summit Carbon Solutions CEO Lee Blank. "It's about practical changes that can make a real difference: improving farm profitability, increasing land values, and offering solid support to our farm families and rural communities. This project represents a significant step forward that is grounded in the humble and hardworking spirit of agriculture."

With the inclusion of Valero, Summit's project now extends to 57 ethanol production facilities across the upper Midwest, from which it will capture and sequester over 16 million metric tons of CO2 per year.


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