Summit Carbon Solutions wants to develop the world’s largest carbon capture and storage project to accelerate decarbonisation efforts across the agriculture industry by enabling the production of low-carbon ethanol.
Through partnering with 31 biorefineries across the Midwest US to capture and permanently sequester carbon emissions, Summit Carbon Solutions hopes to cut the carbon footprint of ethanol production by approximately 50%.
Formalising its ambitions on Wednesday (28th July), the US-based company said it has received a strategic investment from John Deere to support the development.
Welcoming the investment, Bruce Rastetter, CEO of Summit Agricultural Group, said, “John Deere has had a significant impact on food production and on improving the efficiency and sustainability of agriculture globally.
“The recognised early on the impact Summit Carbon Solutions will have on the sustainability of biofuels and the broader agriculture industry. We’re thrilled to have them as a strategic investor.”
Cory Reed, President of Agriculture and Turf Division at John Deere, added, “Agriculture can play a key role in reducing carbon emissions, and in doing so will benefit farmers, consumers and many other stakeholders.”
“Carbon neutral ethanol would have a positive impact on the environment and bolster the long-term sustainability of the agriculture industry. The work Summit Carbon Solutions is doing will be critical in delivering on these goals.”