Summit Carbon Solutions Aims for Zero Carbon Renewable Fuel
Summit Agricultural Group has created Summit Carbon Solutions, a business platform intended to develop the world’s largest carbon capture and storage project. Summit Carbon Solutions will accelerate the transition toward sustainable, renewable energy by lowering the carbon footprint of biorefineries and other carbon dioxide emission sources throughout the Midwestern region of the United States.
When fully developed, Summit Carbon Solutions will have an infrastructure network capable of capturing and permanently storing more than 10 million tons of carbon dioxide annually, which is equivalent to taking 2 million cars off the road per year. The effort will enhance the economic sustainability of the biofuels and agriculture industries, while providing tremendous benefits to communities across the Midwest in the form of significant private investment and job creation.
Expected to be operational in 2024, Summit Carbon Solutions will be the largest carbon capture and storage project in the world.
Summit Carbon Solutions has partnered with a select group of leading biorefiners located in Iowa, Minnesota, South Dakota, and North Dakota to execute the first phase of the project, which will put them on the path of ultimately delivering a net-zero-carbon fuel. In addition to biorefiners, Summit Carbon Solutions will partner with other industries throughout the Midwest that have carbon reduction goals to help them capture and store their carbon emissions.
“This is a giant leap forward for the biofuels industry,” said Bruce Rastetter, CEO of Summit Agricultural Group. “Carbon capture and storage is a future-focused solution that allows the biorefiners to lower their already attractive carbon footprint by up to 50%.”
“Simply put, this will be the most impactful development for the biofuels industry and Midwestern agriculture in decades,” Rastetter added. “We are grateful for our partnership with a significant group of forward-thinking biorefiners who have agreed to partner with us on this exciting new venture.”
Summit Carbon Solutions is proceeding with initial engineering, design, and permitting associated with the project, which will permanently store carbon dioxide in underground saline geologic formations.
“This opportunity helps satisfy the urgent global need to decarbonize and meets the ever-growing demand for low-carbon fuels by collaborating with leading biorefineries to capture and store carbon on a scale not yet achieved anywhere in the world,” said Summit Ag Investors President Justin Kirchhoff.