POET and Summit Carbon Solutions announce carbon capture partnership

The partnership strategically expands the carbon opportunity across the Midwest US 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 t of CO₂ annually from the 17 POET bioprocessing plants.

"POET is excited to partner with Summit Carbon Solutions on this historic project," said Jeff Broin, POET Founder and CEO. "As the world seeks low-carbon energy solutions, carbon capture ensures that ag-based biofuels will remain competitive for decades to come. 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 bioprocessing in the future."

"Today marks a historic day for American agriculture and biofuels. POET is the largest bioethanol producer in the world, and their partnership with Summit Carbon Solutions ensures that decarbonising bioethanol will lead to exciting new market opportunities for producers, rural economies, and American energy security," said Bruce Rastetter, Founder and Executive Chairman of Summit Agricultural Group.

"Our partnership with POET is creating new economic opportunities in agriculture," said Lee Blank, CEO of Summit Carbon Solutions. "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. Our focus is on tangible benefits that directly support the backbone of our nation's agricultural industry."

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/05022024/poet-and-summit-carbon-solutions-announce-carbon-capture-partnership/