World’s largest CCS facility gets $250 mln in funds
CASSELTON, March 4, 2022 – Summit Carbon Solutions has received a strategic investment of USD 250 million from the state’s largest hydrocarbons producer Continental Resources to develop the world’s largest carbon capture and sequestration facility of its kind in North Dakota, the American CCS developer announced on Wednesday.
The funding will be put towards development of the project’s associated capture, transportation and sequestration infrastructure over two years.
Carbon dioxide will be captured from ethanol plants and other industrial sources in Iowa, Nebraska, Minnesota, North Dakota and South Dakota. The project currently has 31 partner ethanol facilities that will deliver up to 8 million tonnes per year of carbon dioxide.
The gas will be transported to the main facility by pipeline. The transportation asset will have an initial capacity of 12 million tonnes per year, with plans to raise its capacity to 12 million tonnes per year. The carbon dioxide will then be stored in subsurface geological formations.
The facility is expected to come on line in H1 2024.