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SUMMIT CARBON SOLUTIONS PARTNERS WITH NEBRASKA LANDOWNERS TO ACHIEVE MAJOR PROJECT MILESTONE

12/6/2022

The company has secured easement agreements for more than 50% of the proposed pipeline route in Nebraska.

Summit Carbon Solutions has partnered with 345 Nebraska landowners to sign 465 easement agreements.

Summit Carbon Solutions reached another major project milestone as the company has now secured easement agreements for more than 50% of the proposed pipeline route in Nebraska. Partnering with 345 landowners across Nebraska to sign 465 easement agreements, the company continues to make significant progress in advancing its carbon capture, transportation, and storage project and the $4.5 billion investment remains on track to begin construction next year and move into operations in 2024.

“Summit Carbon Solutions and our six ethanol plant partners in Nebraska are incredibly pleased that landowners continue to embrace our project and support our efforts to maintain a strong, competitive ethanol industry,” said Summit Carbon Solutions CEO Lee Blank. “Securing easement agreements for a majority of the proposed pipeline route in Nebraska represents a significant step in advancing our project and driving growth in our ag economy long-term.”

Summit Carbon Solutions is partnering with 32 ethanol plants across the Midwest, including Husker Ag in Plainview, Louis Dreyfus in Norfolk, and the Green Plains plants in Atkinson, York, Central City, and Wood River. The company’s $540 million investment in Nebraska will enable partner ethanol producers to sell their product at a premium in the growing number of markets (both states and countries) that have adopted low carbon fuel standards. Access to these markets is critical to the long-term viability of the ethanol industry that today purchases more than 40% of the corn grown in the United States and remains a key driver of commodity prices and land values.

While Summit Carbon Solutions has crossed the 50% mark statewide in Nebraska, there are several counties that have surpassed that pace, including Dakota County (67%), Merrick County (61%), Nance County (63%), and Stanton County (85%).

In each county where the project is proposed to be located in Nebraska, Summit Carbon Solutions will invest an average of $38 million during construction and pay an average of $860,000 in new property taxes every year once the system is operational.