Ethanol Maker Valero to Join $8 Billion Carbon Pipeline Project
- Project now has the world’s two top corn ethanol producers
- Summit faces a raft of hurdles to build controversial pipeline
A Valero Energy Corp. refinery in Corpus Christi, Texas.
Photographer: Eddie Seal/BloombergThis article is for subscribers only.
US fuel refiner Valero Energy Corp. is joining a massive carbon-capture and storage project in the heart of US corn country, lending support to a proposed pipeline plan that faces major hurdles.
The company, one of the country’s largest gasoline producers and its No. 2 corn ethanol maker by market share, has agreed to transport greenhouse-gas pollution from eight of its facilities on Summit Carbon Solutions LLC’s proposed $8 billion pipeline, according to Summit. The agreement comes after Poet LLC, the world’s largest producer of the biofuel, signed onto the project earlier this year.