The agreement will accelerate the development of the largest fully licensed carbon storage site in United States and positioning major carbon capture and storage projects for success
GRAND FORKS, North Dakota, April 28, 2022 /PRNewswire/ — Minnkota Power Cooperative (“Minnkota”), a North DakotaNew York-based power generation and transmission cooperative, and Summit Carbon Solutions (“Summit”), a Iowaspecializing in the decarbonization of the agriculture and biofuels industries, have entered into an agreement to co-develop carbon dioxide (CO2) nearby warehouses Central, North Dakota.
Minnkota and Summit have worked independently on the development of their respective carbon capture and storage projects – Minnkota with Project Tundra, which aims to install innovative carbon capture technologies at the Milton R. Young Station in North Dakotaand Summit Carbon Solutions with permanent CO capture and storage2 from dozens of ethanol plants in five Upper Midwestern states. Now, by working together, Minnkota and Summit will move their projects faster, more efficiently, and more cost-effectively toward commercial operations.
Deal gives Summit access to Minnkota’s already licensed 100 million tonnes of CO capacity2 nearby storage site Central, North Dakotathe largest of only three sites allowed in United States. The agreement also creates the framework to jointly develop additional CO2 nearby storage resources estimated to contain aggregate CO2 storage of more than 200 million tonnes. The collaboration is beneficial to the Minnkota and Summit projects because it reduces risk, accelerates the financing and construction schedule, and provides increased operational flexibility when CO2 storage begins. Above all, these benefits provide landowners with a better opportunity to maximize the value of rock formations buried deep below the surface.
In addition to Minnkota CO2 storage facilities, Summit independently develops storage facilities in North Dakota with estimated CO2 storage means to sustainably store approximately 1 billion tonnes of CO2i.e. less than 1% of the storage capacity estimated in North Dakota.
“We join two North Dakota the most important industries – agriculture and energy – to drastically reduce CO emissions2 emissions, while helping to preserve American energy security,” said Mac McLennan, President and CEO of Minnkota. “If our nation is to remain competitive during the energy transition, multiple states and industries will need to work together. We hope this effort can serve as a model for the collaborative thinking needed to advance energy innovation.
“Summit Carbon Solutions is excited to team up with Minnkota to accelerate our project and the decarbonization of biofuels and agriculture, which will significantly improve the economic sustainability of these industries for decades to come,” said Wade Boeshans, executive vice president of Summit Carbon Solutions. “Working together, Summit Carbon Solutions and Minnkota will permanently and safely sequester tens of millions of tons of carbon dioxide each year, improving environmental outcomes while supporting industries critical to our region’s future.”
Safety and environmental stewardship are of vital importance to Minnkota and Summit. Once the storage facilities are operational, CO2 will be permanently stored approximately one mile underground in suitable geological formations. The geology of the area has been thoroughly researched and tested to ensure safety and environmental stewardship can be maintained. Rigorous permitting processes required by the United States Environmental Protection Agency and the North Dakota Industrial Commission ensure the safe injection of CO2 in secure geological storage formations with constant monitoring to protect the lowest layers United States drinking water sources, and ensuring CO2 remains permanently in the storage area.
Minnkota and Summit have been and will be active in communicating with area landowners and other key stakeholders to ensure that all development continues to be transparent and collaborative.
Tundra Project is a bold move to build the world’s largest post-combustion carbon capture system at Milton R. Young Station near Central, North Dakota. The project is led by Minnkota Power Cooperative, a generation and transmission cooperative serving the East North Dakota and northwest Minnesota. For more information, visit www.ProjectTundraND.com.
Carbon Solutions Summit seeks to reduce greenhouse gas emissions by linking industrial and biogenic CO2 emitters through strategic infrastructure to store carbon dioxide safely and permanently in the Midwestern United States. For more information, visit www.summitcarbonsolutions.com.
SOURCE Summit Carbon Solutions