Green Plains Inks Carbon-Capture Deal
5 Green Plains Bio Plants Part of Carbon Capture Project
OAKHURST, N.J. (DTN) -- Green Plains Inc. on Thursday, April 29, announced that all four of its Nebraska biorefineries and its biorefinery in Shenandoah, Iowa, have entered into a long-term carbon offtake agreement with Summit Carbon Solutions, a subsidiary of Summit Agricultural Group.
The agreement is part of an announced pipeline expansion into Nebraska of the SCS carbon capture and sequestration project that will develop the infrastructure to capture and transport CO2 for long-term deposit into geologic storage.
Green Plains will connect its biorefineries in Shenandoah and Atkinson, Central City, Wood River and York, Nebraska, bringing its total commitment to 658 million gallons of annual capacity, or nearly 70% of its platform.
Green Plains' biorefineries in Obion, Tennessee; Mount Vernon, Indiana; and Madison, Illinois, are all candidates for direct carbon dioxide injection into geologic storage and are being considered for future non-pipeline projects.
Green Plains' expanded annual commitment is approximately 1.9 million metric tons of carbon dioxide, the same amount of carbon sequestered by 2.3 million acres of U.S. forests in a year, according to the U.S. Environmental Protection Agency. The expanded project is expected to begin operation in 2024.
"Expanding our partnership with Summit Carbon Solutions is critical to the ongoing transformation of our biorefinery platform," said Todd Becker, president and CEO. "Dramatically lowering the carbon intensity of our plants is important to our Ultra-High Protein ingredients and renewable corn oil as customers are increasingly looking to improve the carbon footprint of their own products. The pure CO2 coming from our fermentation process is ideally suited for capture and long-term sequestration and we believe this carbon reduction could earn additional income from low carbon fuel standard credits, 45Q tax credits and voluntary carbon credit markets as they develop in the future."
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