Navigator CO2 Ventures will integrate its carbon capture, utilisation, and storage (CCUS) technology at 18 POET facilities across Iowa, Nebraska and South Dakota, as part of a new deal that will see five million metric tonnes of biogenic CO2 captured, transported and stored annually.

The ambitious plans were today (7th June) confirmed with the signing of a letter of intent that also establishes a collaborative path for the development of a central carbon offset marketplace and carbon use logistics platform.

One of the world’s largest producers of biofuels and a leader of sustainable bioproducts, POET is located right in the heart of Navigator’s Heartland Greenway system, which hopes to eventually capture and sequester 15 million metric tonnes of CO2 annually in Midwest US.

Read more: Navigator gets approval for carbon capture plans

Navigator_CO2

Heartland Greenway

Source: Navigator

gasworld understands the CCUS systems at the POET sites will be operational by 2025.

Jeff Broin, founder and CEO of POET, said, “We recognise that now is the time to take bold action to preserve our planet for future generations. POET has been a leader in low-carbon biofuels and CO2 capture for commercial use for decades, and this project is another significant step in utilising bioprocessing to accelerate our path to Net Zero.”

“We choose our partners carefully, and we believe Navigator has the expertise to deliver long-term value to rural America by further positioning agricultural commodities as a viable source of low-carbon liquid fuels to power our future.”

The addition of POET as a customer means the Navigator Heartland Greenway system will be supplying more than 30 industrial processors, representing over ten million tonnes of annual carbon emissions, with its technology.

Matt Vining, CEO of Navigator, added, “This agreement is a testament to two industries coming together and using their resources to pave innovative pathways toward carbon neutrality and a more sustainable future. The breadth, scale and technical acumen of each party’s platform is unmatched.”

“POET is an industry pioneer that has built a company on the pillars of safety, integrity, innovation and being a good neighbour in the communities they call home, all of which align entirely with the culture and track record of Navigator.”

“We look forward to this partnership with POET as we continue to fulfil our mission to provide sustainable carbon solutions to our multiple storage sites.”