By Kim Chipman and Tarso Veloso Ribeiro

April 26, 2023

A project to build a giant pipeline to remove carbon produced by the corn-based ethanol industry struck its first agreement to sell carbon-removal credits, part of a broader push to improve the green credentials of the fuel.

Summit Carbon Solutions, which is building the $5.5 billion pipeline through the heart of America’s Corn Belt, said it will sell credits valued at up to $30 million to NextGen CDR Facility, a joint venture of Japanese conglomerate Mitsubishi Corp. and climate consultancy South Pole.

Together with two other deals that the joint venture announced Wednesday, the transactions equal a quarter of all certified carbon removals to date, according to NextGen. Specific prices weren’t disclosed.

To read the rest of this article, please visit its original source at Bloomberg.

VIEW ORIGINAL ARTICLE