Biofuels – POET and Summit Carbon Options announce Carbon Seize partnership.
In a significant step ahead for the way forward for agriculture and biofuels, POET and Summit Carbon Options (Summit) introduced a groundbreaking partnership connecting the world’s largest biofuel producer with the world’s largest carbon seize and storage venture.
This collaboration brings collectively two entities—each based upon creating new agricultural markets and supporting rural communities—to seize the worth of the biogenic CO2 from the bioethanol manufacturing course of.
The partnership strategically expands the carbon alternative throughout the Midwest by incorporating POET’s 12 services in Iowa and 5 services in South Dakota into the Summit venture. This addition will facilitate the seize, transportation, and everlasting storage of 4.7 million metric tons of CO2 yearly from the 17 POET bioprocessing crops.
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Jeff Broin, POET Founder and CEO stated:
POET is worked up to companion with Summit Carbon Options on this historic venture.
“Because the world seeks low-carbon power options, carbon seize ensures that ag-based biofuels will stay aggressive for many years to return. This can be a large alternative to deliver worth to farmers, bioethanol producers, and rural communities and counties in taking part states, and I imagine it would unleash much more alternatives for ag and bioprocessing sooner or later.”
Bruce Rastetter, Founder and Govt Chairman of Summit Agricultural Group stated:
At this time marks a historic day for American agriculture and biofuels.
“POET is the most important bioethanol producer on the planet, and their partnership with Summit Carbon Options ensures that decarbonizing bioethanol will result in thrilling new market alternatives for producers, rural economies, and American power safety,”
Lee Clean, CEO of Summit Carbon Options stated:
Our partnership with POET is creating new financial alternatives in agriculture.
“This initiative is aimed toward enhancing the monetary profitability of our farmers, contributing to greater land values, and making certain a extra affluent future for farm households and communities. Our focus is on tangible advantages that instantly help the spine of our nation’s agricultural business.”
The timeline for the addition of those crops is strategically deliberate. The crops in South Dakota shall be included within the upcoming state utility, making certain a streamlined integration into Summit’s current venture framework. In the meantime, for the crops in Iowa, separate functions shall be filed, acknowledging the distinctive necessities and alternatives in every state. This structured strategy permits Summit to effectively broaden our venture scope whereas adhering to native laws and wishes.
About Summit Carbon Options
Summit Carbon Options is driving the way forward for agriculture by increasing financial alternatives for ethanol producers, strengthening {the marketplace} for Midwest-based farmers, and creating jobs. In growing the most important carbon seize and storage venture on the planet, the corporate seeks to attach industrial services by way of strategic infrastructure to retailer carbon dioxide safely and completely within the Midwest United States. For extra data, go to: www.SummitCarbonSolutions.com.
About POET
POET‘s imaginative and prescient is to create a world in sync with nature. Because the world’s largest producer of biofuel and a worldwide chief in sustainable bioproducts, POET creates plant-based alternate options to fossil fuels that unleash the regenerative energy of agriculture and domesticate alternatives for America’s farm households.
Based in 1987 and headquartered in Sioux Falls, POET operates 34 bioprocessing services throughout eight states and employs greater than 2,400 staff members. With a set of bioproducts that features high-quality animal feed, corn oil, inexperienced asphalt rejuvenator, purified alcohol, and renewable CO2, POET nurtures an unceasing dedication to innovation and advances highly effective, sensible options to among the world’s most urgent challenges.
POET holds greater than 100 patents worldwide and continues to interrupt new floor in biotechnology, yielding lower-carbon, extra environment friendly renewable power and bioproducts.
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POET and Summit Carbon Options Announce Carbon Seize Partnership, AMES, Iowa and SIOUX FALLS, Iowa, January 29, 2024
