Absolute Energy, which commenced operations in 2008 and produces approximately 130 million gallons/year of ethanol, joins an expanding network of ethanol plants as partners in the carbon capture and storage project led by Summit Carbon Solutions.
Summit's partnership with Absolute Energy will result in the removal and permanent storage of 370,000 metric tons of CO2 per year. The company said the new relationship also builds on recent momentum, which includes a new partnership with NuGen Energy, a South Dakota producer, and the recently acquired 70% pipeline route through voluntary easements with nearly 2,500 landowners.
Summit Carbon Solutions said it is spearheading the development of the world's largest carbon capture and storage project, which upon completion will sequester up to 18 million metric tons of carbon dioxide each year. The project, extending through Minnesota, Iowa, Nebraska, South Dakota and North Dakota, is said to reduce the carbon footprint of participating ethanol plants and open new market opportunities.
"We are thrilled to welcome Absolute Energy as a partner," said Lee Blank, CEO of Summit Carbon Solutions. "Absolute Energy shares our aspiration to fortify the long-term sustainability and prosperity of U.S. agriculture by championing a decarbonized supply chain for their ethanol.."
For its part, Absolute Energy said the partnership fills the company with "a sense of purpose and satisfaction" to team up with Summit on its carbon capture and storage project.
"The strategic placement of our Absolute Energy facility in Saint Ansgar, Iowa, coupled with our earnest endeavor to curtail greenhouse gas emissions, finds a parallel mission with Summit Carbon Solutions," said Rick Schwarck, CEO of Absolute Energy. "We eagerly anticipate joining forces with Summit to meet our environmental sustainability goals."