Summit Agricultural Group has announced the creation of Summit Carbon Solutions, expected to be the world’s largest carbon capture and storage project.

The goal of Summit Carbon Solutions is to accelerate the transition toward sustainable, renewable energy by dramatically lowering the carbon footprint of biorefineries and other carbon dioxide emission sources throughout the Midwestern region of the United States.

When fully developed, Summit Carbon Solutions will have an infrastructure network capable of capturing and permanently storing more than 10 million tons of carbon dioxide annually, which is equivalent to taking 2 million cars off the road per year. In addition to the project’s positive environmental impact, it will enhance the economic sustainability of the biofuels and agriculture industries, while providing tremendous benefits to communities across the Midwest in the form of significant private investment and job creation.

Summit Carbon Solutions has partnered with a select group of leading biorefiners located in Iowa, Minnesota, South Dakota, and North Dakota to execute the first phase of the project, which will put them on the path of ultimately delivering a net-zero-carbon fuel. In addition to biorefiners, Summit Carbon Solutions will partner with other industries throughout the Midwest that have carbon reduction goals to help them capture and store their carbon emissions.

American Coalition for Ethanol (ACE) CEO Brian Jennings said they are looking forward to supporting members companies who participate in this endeavor “to increase the value of their ethanol by improving their carbon footprint, supporting their rural communities, and helping the nation reach net-zero carbon emissions by mid-century.”

Summit Carbon Solutions, which will permanently store carbon dioxide in underground saline geologic formations, is expected to be operational in 2024.