In a major step forward for the future of agriculture and biofuels, POET and Summit Carbon Solutions (Summit) announced a groundbreaking partnership connecting the world’s largest biofuel producer with the world’s largest carbon capture and storage project. This collaboration brings together two entities—both founded upon creating new agricultural markets and supporting rural communities—to capture the value of the biogenic CO2 from the bioethanol production process.
The partnership strategically expands the carbon opportunity across the Midwest by incorporating POET’s 12 facilities in Iowa and five facilities in South Dakota into the Summit project. This addition will facilitate the capture, transportation, and permanent storage of 4.7 million metric tons of CO2 annually from the 17 POET bioprocessing plants.
The timeline for the addition of these plants is strategically planned. The plants in South Dakota will be included in the upcoming state application, ensuring a streamlined integration into Summit’s existing project framework. Meanwhile, for the plants in Iowa, separate applications will be filed, acknowledging the unique requirements and opportunities in each state. This structured approach allows Summit to efficiently expand our project scope while adhering to local regulations and needs.
Courtesy of Poet.