Summit Carbon Solutions has formed a strategic investment from Continental Resources to create a carbon capture and sequestration project.
Continental Resources will commit $250 million during the next two years to help fund the development and construction of the project’s associated capture, transportation and sequestration infrastructure, while also leveraging its operational and geologic expertise to help ensure the safe and secure storage of CO2.
Summit Carbon Solutions will primarily capture CO2 from ethanol plants and other industrial sources in Iowa, Nebraska, Minnesota, North Dakota and South Dakota. The CO2 will be aggregated and transported to North Dakota via pipeline, where it will be safely and permanently sequestered in extensively researched subsurface geologic formations.
The project has commitments from 31 partner ethanol facilities to deliver more than 8.0 million metric tons per year (MMtpa) of CO2, with initial pipeline capacity