North Dakota Landowners Sign Voluntary Easement Agreements with Summit Carbon Solutions Totaling 70% of the Pipeline Route
AMES, Iowa (March 27, 2023) – Summit Carbon Solutions announced today it has secured voluntary easement agreements with more than 375 North Dakota landowners accounting for 70% of the proposed pipeline route in the state.
In addition to reaching this latest milestone, North Dakota landowners have also signed agreements for 85% of Summit Carbon Solutions’ proposed sequestration site or 135,000 total acres.
“Landowners across North Dakota and the Midwest have embraced Summit Carbon Solutions’ carbon capture project because they recognize this investment will bolster our most critical economic industries – agriculture, energy, and ethanol,” said Summit Carbon Solutions’ CEO, Lee Blank. “As a company rooted in agriculture, we are incredibly proud to have formed partnerships with thousands of landowners across the Midwest and will continue to work with these individuals and families to drive the future of our ag economy.”
The overwhelming majority of ethanol plants across the Midwest have joined carbon capture projects like Summit Carbon Solutions. These investments will allow ethanol producers to sell their product at a premium in growing number of states and countries that have adopted low carbon fuel standards.
“With the ethanol industry supporting 10,000 jobs in North Dakota, contributing $600 million to the state’s gross domestic product every year, and purchasing 50% of the corn grown in the state, it’s absolutely vital that we invest in carbon capture projects that will ensure the long-term viability of ethanol producers and our broader ag economy,” said Summit Carbon Solutions’ Executive Vice President Wade Boeshans. “Protecting the safety of people and the environment is our highest priority as we develop this critical infrastructure. Summit Carbon Solutions is proud to stand with landowners to protect the industries that are critical to the livelihoods of North Dakotans, grow our economy, and help generate millions of dollars in new revenues for local communities across the Midwest.”
During construction, Summit Carbon Solutions plans to invest nearly $900 million in North Dakota or an average of $81 million in the counties where the project is proposed to operate.
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About Summit Carbon Solutions:
Summit Carbon Solutions is driving the future of agriculture by expanding economic opportunities for ethanol producers, strengthening the marketplace for Midwest-based farmers, and creating jobs. In developing the largest carbon capture and storage project in the world, the company seeks to lower greenhouse gas emissions by connecting industrial facilities via strategic infrastructure to store carbon dioxide safely and permanently in the Midwestern United States. For more information, visit: www.SummitCarbonSolutions.com.
Contact:
Jesse Harris
515.240.2104Jharris@Summitcarbon.com