POET LLC, a leading name in the ethanol production industry and known as the world’s largest producer, announced on Monday its new collaboration with Summit Carbon Solutions. This partnership aims to implement carbon capture technology at 17 of POET’s ethanol plants located in the U.S. Midwest, integrating them into Summit’s ambitious pipeline project that spans multiple states.
This isn’t POET’s first foray into carbon capture and storage (CCS) initiatives. The company had previously teamed up with Navigator CO2 Ventures on a similar project aimed at reducing the carbon footprint of its ethanol production and advancing its environmental goals. However, Navigator’s project was shelved in October due to regulatory hurdles at the state level, making the new partnership with Summit a critical next step for POET.
Jeff Broin, the founder and CEO of POET, emphasized the importance of carbon capture technology in ensuring the long-term viability and competitiveness of agricultural-based biofuels. He views this as a strategic move in the global quest for sustainable and low-carbon energy solutions.
Under the new arrangement, Summit Carbon Solutions will capture and sequester approximately 4.7 million metric tons of CO2 emissions annually from 12 POET plants in Iowa and five in South Dakota. This initiative is part of Summit’s larger plan, which includes capturing a total of 18 million metric tons of CO2 across 33 biofuel plants and transporting it through a proposed 2,000-mile pipeline, traversing five states.
However, the Summit pipeline project has encountered resistance, particularly from landowners concerned about the potential risks of CO2 leaks, damage to agricultural land, and the threat of eminent domain for pipeline construction. Such opposition led to a setback in South Dakota, where state regulators rejected Summit’s initial application due to safety and landowner concerns. Similarly, North Dakota regulators denied a permit for the project, citing potential risks to human health and the environment.
Despite these challenges, Summit is preparing to submit a revised application in South Dakota and is awaiting a crucial permit decision from Iowa’s state utility regulators. The partnership between POET and Summit Carbon Solutions represents a significant step forward in the biofuel industry’s efforts to reduce its environmental impact and contribute to the fight against climate change.
