Ethanol Maker Poet Agrees to Ship Carbon on Summit Pipeline
- Poet bets on US CO2 project after prior partnership fizzled
- Summit says its pipeline will be big boon for US corn farmers
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Poet LLC, the world’s top corn-ethanol producer, is teaming up with a company proposing a massive carbon-capture and storage project in the US as it pushes to slash biofuel emissions and tap into demand for sustainable aviation fuel and other burgeoning markets.
Summit Carbon Solutions has agreed to ship carbon dioxide from 17 Poet facilities through its proposed pipeline in the heart of the Corn Belt, giving the project a total of 51 ethanol plants and raising total capital expenditures 45% to $8 billion, according to Summit. South Dakota-based Poet is banking on the project just months after a similar pipeline plan it was part of was scrapped amid regulatory obstacles and opposition from landowners.