Continental Resources invests $250 million in Summit Carbon Solutions to develop a major carbon capture and sequestration project, targeting an annual capture of over 8 million metric tons of CO2 from ethanol plants across the Midwest.

Information on the Target

Summit Carbon Solutions is poised to execute the world's largest carbon capture and sequestration initiative, focusing on the collection of carbon dioxide (CO2) emissions from ethanol plants and other industrial sources. The project encompasses ties with 31 partner ethanol facilities across Iowa, Nebraska, Minnesota, North Dakota, and South Dakota, collectively responsible for delivering over 8 million metric tons per annum (MMtpa) of CO2. The captured CO2 will be securely transported via pipeline to North Dakota for permanent sequestration in thoroughly researched geological formations.

This ambitious endeavor aligns with the growing urgency for sustainable energy solutions and the transition towards low-carbon fuels. The initial pipeline capacity is set at 12 MMtpa, with provisions to expand the capacity to 20 MMtpa, showcasing a robust framework for future growth in carbon management.

Industry Overview in the Target’s Specific Country

The U.S. ethanol industry is experiencing significant growth, driven largely by the increasing demand for cleaner fuels. As the nation seeks to meet ambitious carbon neutrality goals, ethanol is positio