Read the company news release.
Today, Summit Carbon Solutions announces a strategic investment from Continental Resources, Inc. (NYSE: CLR) to create the largest carbon capture and sequestration project of its kind in the world.
Continental Resources will commit $250 million over the next two years to help fund the development and construction of the project’s associated capture, transportation, and sequestration infrastructure, while also leveraging its operational and geologic expertise to help ensure the safe and secure storage of CO2.
Summit Carbon Solutions will primarily capture CO2 from ethanol plants and other industrial sources in Iowa, Nebraska, Minnesota, North Dakota and South Dakota. The CO2 will be aggregated and transported to North Dakota via pipeline, where it will be safely and permanently sequestered in extensively researched subsurface geologic formations.
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