Summit Carbon Solutions Announces Absolute Energy as Partner Ethanol Plant in Iowa

AMES, Iowa, June 5, 2023 /PRNewswire/ -- Summit Carbon Solutions is pleased to announce a new partnership with Absolute Energy, an ethanol plant located in Saint Ansgar, Iowa. Absolute Energy, which commenced operations in 2008 and produces approximately 130 million gallons per year of ethanol, joins an expanding network of leading ethanol plants as partners in the transformative carbon capture and storage project led by Summit Carbon Solutions.

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Summit Carbon Solutions is spearheading the development of the world's largest carbon capture and storage project, which upon completion will permanently and safely sequester up to 18 million metric tons of carbon dioxide each year. The project, extending through Minnesota, Iowa, Nebraska, South Dakota, and North Dakota, significantly reduces the carbon footprint of participating ethanol plants and opens new market opportunities.

"We are thrilled to welcome Absolute Energy as a partner," said Lee Blank, CEO of Summit Carbon Solutions. "Absolute Energy shares our aspiration to fortify the long-term sustainability and prosperity of U.S. agriculture by championing a decarbonized supply chain for their ethanol. Their relentless pursuit of excellence, high yields, and operational efficiency aligns precisely with our mission."

"It fills us with a sense of purpose and satisfaction to team up with Summit on this critical mission of carbon capture and storage," said Rick Schwarck, CEO of Absolute Energy. "The strategic placement of our Absolute Energy facility in Saint Ansgar, Iowa, coupled with our earnest endeavor to curtail greenhouse gas emissions, finds a parallel mission with Summit Carbon Solutions. We eagerly anticipate joining forces with Summit to meet our environmental sustainability goals."

Summit's partnership with Absolute Energy will result in the removal and permanent storage of 370,000 metric tons of CO2 per year and builds on recent momentum, including a new partnership with NuGen Energy, a South Dakota producer, and having successfully acquired 70 percent of its pipeline route through voluntary easements with nearly 2,500 landowners. These achievements underline Summit's strong community support and shared vision for sustainable agriculture and energy production.

About Summit Carbon Solutions:

Summit Carbon Solutions is committed to helping its partners manage their carbon emissions. Our strategy involves linking industrial and biogenic CO2 emitters via strategic infrastructure, enabling the safe and permanent storage of carbon dioxide in the Midwestern United States.

To learn more about Summit Carbon Solutions, please visit: www.SummitCarbonSolutions.com

SOURCE Summit Carbon Solutions