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Summit Carbon Solutions has partnered with biofuel producer POET to annually capture and permanently store more than 4 million metric tons of CO2 from POET’s 17 bioprocessing plants, according to a news release.
The partnership will incorporate POET’s 12 facilities in Iowa and five facilities in South Dakota into Summit’s carbon capture and storage project.
“As the world seeks low-carbon energy solutions, carbon capture ensures that ag-based biofuels will remain competitive for decades to come,” said POET CEO Jeff Broin. “This is a tremendous opportunity to bring value to farmers, bioethanol producers, and rural communities and counties in participating states, and I believe it will unleash even more opportunities for ag and bioprocessing in the future.”
The South Dakota plants will be included in the upcoming state application, aiming to ensure a streamlined integration into Summit’s existing project framework, according to the news release. Separate applications will be filed for the plants in Iowa.
“This initiative is aimed at enhancing the financial profitability of our farmers, contributing to higher land values, and ensuring a more prosperous future for farm families and communities,” said Summit Carbon Solutions CEO Lee Blank. “Our focus is on tangible benefits that directly support the backbone of our nation's agricultural industry.”
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