Create a free Feed & Grain account to continue reading

POET Signs 5 Million-Ton Carbon Capture Deal

Navigator CO2 Ventures will provide carbon capture, utilization, and storage services

Image by Gerd Altmann from Pixabay
Image by Gerd Altmann from Pixabay

POET has signed a deal with Navigator CO2 Ventures to provide POET with carbon capture, utilization, and storage (CCUS) services on Navigator’s Heartland Greenway system.

Heartland Greenway System

The Heartland Greenway System is a carbon capture pipeline system expected to be completed in 2025. The pipeline will span 1,300 miles across five Midwest states with nearly 20 receipt points. When finished, the pipeline will be able to transport and sequester up to 15 million metric tons per year.

"The Heartland Greenway is the first substantial, fully integrated CO2 handling system to reach a final investment decision, and we could not be more excited for the path ahead for all stakeholders," said Navigator CEO Matt Vining.

"It is a great privilege and responsibility to help pave the way for large-scale infrastructure projects designed to reduce greenhouse gas emissions in a material way. We are thankful for the opportunity to serve our customers and investors who have entrusted us with the task ahead."

Environmental responsibility

The system will phase in 18 of POET’s bioprocessing facilities across Iowa, Nebraska, and South Dakota and is scheduled for operational in-service in 2025.

According to a release from the company, not only will Navigator store 5 million metric tons of POET’s biogenic CO2 annually, but the companies will also work together in the development of a central carbon offset marketplace and carbon use logistics platform.

The joint efforts will create the most significant combined distribution network for high-quality, biogenic CO2.

“We recognize that now is the time to take bold action to preserve our planet for future generations,” said Jeff Broin, POET Founder and CEO.

“POET has been a leader in low-carbon biofuels and CO2 capture for commercial use for decades. This project is another significant step in utilizing bioprocessing to accelerate our path to net-zero," continues Broin.

"We choose our partners carefully, and we believe Navigator has the expertise to deliver long-term value to rural America by further positioning agricultural commodities as a viable source of low-carbon liquid fuels to power our future.”

Companies partner together

Vining said this agreement is a testament to two industries coming together and using their resources to pave innovative pathways toward carbon neutrality and a more sustainable future.

"The breadth, scale, and technical acumen of each party’s platform is unmatched,” said Vining. “POET is an industry pioneer that has built a company on the pillars of safety, integrity, innovation, and being a good neighbor in the communities, they call home, all of which align entirely with the culture and track record of Navigator."

With the addition of POET to the platform, Navigator’s Heartland Greenway system will provide CCUS services for more than 30 industrial processors across the agriculture and food production value chains, representing over 10 million tons of annual CO2 emissions, including the two largest bioethanol producers in the U.S., in addition to highly efficient single-site production facilities.

Navigator’s unique platform will now mobilize efforts to deliver up to 15 million tons annually of CCUS services through new pipeline laterals and the parallel development of multiple storage sites.

In March, Navigator CO2 Ventures entered into a long-term agreement with Siouxland Ethanol to provide CO2 capture, transportation and storage services on the Heartland Greenway.

Page 1 of 354
Next Page