Summit Completes Fundraising for Carbon Pipeline Across North Iowa

A company proposing to build a carbon pipeline through Iowa has reached a financial milestone for the project.

Summit Carbon Solutions is looking to build its “Midwest Carbon Express” pipeline starting with the Heartland Energy Solutions ethanol plant between Lawler and New Hampton as its easternmost starting point. The pipeline would then be built west through Chickasaw County, Floyd County and Cerro Gordo County, where the Golden Grain Energy ethanol plant near Mason City is a partner site, to capture carbon dioxide (C02) in liquid form eventually to an underground storage facility in North Dakota..

According to a news release from Summit, the company has raised more than a billion dollars for its project after securing 300 million dollars from a private equity firm called TPG Rise Climate. Summit adds that it completes the fundraising for its pipeline.

Summit has yet to receive a permit from the Iowa Utilities Board (IUB) to build the pipeline, but surveyors have been out trying to develop its route. The IUB is not expected to rule on the permit until early next year.

At a recent meeting with the Kossuth County Board of Supervisors, a Summit representative said they had reached voluntary easements with 20% of the landowners along its route and hoped to reach 80% before having to utilize eminent domain to secure the remaining easements for the project.

Mark Pitz

News Director/Weekdays 10am to 2pm on 95.9 KCHA
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