Valero, a corn ethanol and low-carbon transportation fuel producer, will be a shipper on Summit Carbon Solutions’ (Summit) pipeline as part of a proposed carbon capture and storage project. The project aims to improve low-carbon fuel production for reliable energy and support for rural communities while growing the market for Midwest fuel and grain.
Valero's eight ethanol facilities across Iowa, Nebraska, Minnesota, and South Dakota are expected to be included in the project to add 1.1 billion gallons of ethanol per year and assist in capturing 3.1 million metric tons of CO2 annually. This will reduce the carbon intensity of ethanol production and open access to low-carbon fuel markets.
“This project ensures the agriculture and biofuels industries will remain dynamic and competitive, meeting the needs of today while preparing for the opportunities of tomorrow,” said Bruce Rastetter, Founder and Executive Chairman of Summit Agricultural Group.
Summit's project extends to 57 ethanol production facilities across the upper Midwest, from which it will capture and sequester over 16 million metric tons of CO2 per year, with the involvement of Valero.
"I view our project as representing a meaningful shift in agriculture to lower the carbon intensity of biofuel products," said Summit Carbon Solutions CEO Lee Blank. "It's about practical changes that can make a real difference: improving farm profitability, increasing land values, and offering solid support to our farm families and rural communities."