Summit Carbon Solutions has completed its equity fundraising efforts, raising more than $1 billion in total equity commitments.
Along with more than $600 million raised from prior investors, including Continental Resources and Tiger Infrastructure Partners, Summit has secured additional commitments for more than $400 million, including $300 million from TPG Rise Climate, the dedicated climate-investing strategy of TPG's global impact investing platform TPG Rise.
These commitments and the conclusion of Summit’s fundraise come on the heels of the recent announcement of its joint venture with Minnkota Power Cooperative that will provide Summit access to the largest fully permitted permanent carbon dioxide storage site in the United States. Together with the storage sites Summit is developing independently, the joint venture will provide Summit with total storage capacity of approximately 1.2 billion tons of carbon dioxide.
Summit Carbon Solutions is a developer