Summit Carbon Solutions achieves new milestone in South Dakota

Summit Carbon Solutions has achieved another important project milestone as the Company has now entered into easement agreements for more than 50 percent of the proposed pipeline route in South Dakota. The Company is working with 400 landowners across South Dakota to sign 650 easement agreements and continues to make significant progress advancing its carbon capture, transportation and storage project and $4.5 billion investment remains on track to begin construction next year and become operational in 2024.

“Summit Carbon Solutions and our seven ethanol plant partners in South Dakota are incredibly pleased that landowners continue to embrace our project and support our efforts to maintain a strong, competitive ethanol industry,” said Lee Blank, CEO of Summit Carbon Solutions. “The completion of easement agreements for much of the proposed pipeline route in South Dakota represents a significant step in advancing our project and driving long-term growth of our agricultural economy.”

Summit Carbon Solutions works with 32 ethanol plants in the Midwest, including Dakota Ethanol in Wentworth, Redfield Energy in Redfield, Ringneck Energy in Onida and Glacial Lakes Energy plants in Aberdeen, Huron, Mina and Watertown. The company’s $800 million investment in South Dakota will enable partner ethanol producers to sell their products in the growing number of markets (both states and countries) that have adopted low-carbon fuel standards for sale at extra cost. Access to these markets is critical to the long-term viability of the ethanol industry, which today purchases more than 60 percent of the corn grown in South Dakota and remains a major driver of commodity prices and land values.

While Summit Carbon Solutions has surpassed the 50 percent mark statewide in South Dakota, there are several counties that have surpassed that pace including Beadle County (78 percent), Clark County (86 percent), Edmunds County (68 percent), Hamlin County (60 percent), Kingsbury County (88 percent), Lake County (75 percent), and McCook County (100 percent). In each county in South Dakota where the project is planned to be located, Summit Carbon Solutions will invest an average of $44 million during construction and pay an average of $650,000 in new property taxes each year once the system is operational.

To learn more about Summit Carbon Solutions, please visit www.SummitCarbonSolutions.com.

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