Anew Climate And Summit Carbon Solutions Team Up For Major CO2 Removal Effort

Anew Climate, LLC, a frontrunner in delivering a wide array of climate solutions, has recently entered into a marketing agreement with Summit Carbon Solutions, a leading developer in the biogenic carbon capture and storage sector. This collaboration is set to market carbon dioxide removal credits (CDRs) stemming from Summit Carbon's innovative Biomass with Carbon Removal and Storage (BiCRS) project. This ambitious initiative aims to capture and securely store over 160 million tonnes of biogenic carbon dioxide emissions from more than 50 biorefineries across the Midwestern United States within the next decade.

Angela Schwarz, Chief Executive Officer at Anew Climate, expressed optimism about the demand for CDRs from this pioneering project. "High-quality carbon dioxide removals are intensely sought after by buyers in the voluntary carbon market who are pursuing climate investments with lasting geologic permanence as part of their comprehensive strategies," Schwarz stated. She further emphasized the significance of this collaboration in removing atmospheric carbon dioxide and its crucial role in climate change mitigation.

Summit Carbon Solutions is spearheading an $8 billion infrastructure project anticipated to annually capture more than 16 million tonnes of waste biogenic CO2 emissions. These emissions would otherwise contribute to atmospheric pollution during the bioethanol production process. The captured emissions are planned to be permanently sequestered deep underground in North Dakota, marking a significant milestone as the first tech-based CDR project to exceed the 1 million metric tonne scale.

Lee Blank, Chief Executive Officer of Summit Carbon Solutions, highlighted the project's broader implications. "As we deliver the world’s largest carbon dioxide removal project, we’re not only removing carbon but also paving the way for bioethanol producers to access new markets," Blank said. He underscored the project's potential to secure a sustainable future for agriculture and energy sectors.

The BiCRS project will be the first to employ a new methodology approved by the Gold Standard for the Global Goals (GS4GG) – Biomass Fermentation with Carbon Capture and Storage. GS4GG is renowned for its rigorous verification process to ensure project quality, stakeholder consultation, safeguarding requirements, and alignment with sustainable development goals.

Anew Climate stands as a global leader in climate solutions, offering innovative products and services aimed at reducing or offsetting carbon footprints, restoring the environment, and generating economic value alongside durable climate impact. Owned primarily by TPG Rise, TPG’s global impact investing platform, Anew operates across five continents with offices in the United States, Canada, Spain, and Hungary.

Summit Carbon Solutions is at the forefront of transforming agriculture's future by enhancing economic opportunities for ethanol producers, bolstering Midwest-based farmers' marketplace, and generating employment. By developing the world's largest carbon capture and storage project, Summit aims to connect industrial facilities through strategic infrastructure for safe and permanent carbon dioxide storage in the Midwest United States.

For those interested in learning more about this groundbreaking initiative or in purchasing CDRs, contact details have been provided: [email protected] for Anew Climate inquiries and [email protected] for Summit Carbon Solutions.