Carbon Deal Targets US Pipeline Seeking to Tackle Corn-Based Ethanol Emissions
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.
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