Northwest Iowa — The company that runs the ethanol plant near Ashton is entering into an agreement with Summit Carbon Solutions.
POET Biorefining officials tell us that the company is going to partner with Summit Carbon Solutions’ carbon capture and storage project. The joint venture was announced Monday morning. The agreement will incorporate POET’s 12 facilities in Iowa and five facilities in South Dakota into the Summit project.
A press release says the addition of POET facilities will allow for the capture, transportation, and permanent storage of 4.7 million metric tons of carbon dioxide.
The release goes on to say that the plants in South Dakota will be included in an upcoming application with that state, while separate applications will be made for those in Iowa.
Jeff Broin, POET Founder and CEO says, “POET is excited to partner with Summit Carbon Solutions on this historic project. As the world seeks low-carbon energy solutions, carbon capture ensures that ag-based biofuels will remain competitive for decades to come. This is a tremendous opportunity to bring value to farmers, bioethanol producers, and rural communities and counties in participating states, and I believe it will unleash even more opportunities for ag and bioprocessing in the future.”
Officials with Summit and POET say the structured approach allows Summit to efficiently expand their project scope while adhering to local regulations and needs.(Thanks to fellow Community First Broadcasting station KUOO in Spirit Lake for their contributions to this story.)