Dear Iowa Utilities Board Members: 

The ethanol industry in Iowa has been a crucial piece of our economy for the past 20 years. The industry’s success has led to higher land values, increased corn prices, and overall economic prosperity for our farmers. To continue this trend, we must meet our challenges head-on by embracing innovation and evolving our business model to meet market demands. 

To meet this initiative, Pine Lake Corn Processors in Steamboat Rock, Iowa, decided to partner with Summit Carbon Solutions to increase the viability of our plant as the market shifts towards low-carbon fuel standards. 

Iowa leads the nation in ethanol production, and the industry supports tens of thousands of jobs and contributes $4 billion to the state’s GDP. With proper technology advances such as carbon capture and sequestration (CCS), ethanol plants in Iowa have an opportunity to become a leading supplier in the fuel market. 

Summit’s project will bring additional economic benefits to communities along the route. For example, counties will see an increase in tax revenue paid entirely by Summit, providing a boost to local schools, infrastructure, and other projects. Here in Hardin County, we will see an additional $2 million dollars in annual property taxes, all while local ethanol plants are able to continue buying corn for high prices. 

Pine Lake’s partnership with Summit will propel our community. Please join myself and many others in supporting the future of ethanol in Iowa. 

Ken Smith
Risk Manager
Pine Lake Corn Processors