Anew Climate, LLC, a prominent provider of diverse climate solutions worldwide, has announced a marketing agreement with Summit Carbon Solutions, the largest developer of biogenic carbon capture and storage projects globally. The agreement stipulates that Anew will market carbon dioxide removal credits (CDRs) produced from Summit Carbon’s pioneering Biomass with Carbon Removal and Storage (BiCRS) project. The BiCRS project is anticipated to capture and sequester over 160 million tonnes of biogenic carbon dioxide emissions from more than 50 biorefineries across the Midwestern United States in the coming decade.
“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,” said Angela Schwarz, Anew Climate Chief Executive Officer. “We anticipate significant demand for CDRs in this first-of-its-kind project at scale. We are pleased to be working with Summit Carbon in this important new CDR market that helps remove carbon dioxide from the atmosphere and is a vital path to mitigate climate change.”
Summit Carbon is planning to launch a massive $8 billion infrastructure project aimed at capturing over 16 million tonnes of waste biogenic CO2 emissions every year. These emissions would otherwise be released back into the atmosphere during the bioethanol production process. Once captured, the emissions will be safely and permanently stored thousands of feet underground in North Dakota. This will be a technology-based CDR project that will be the first of its kind to surpass the 1 million metric tonne scale. The project’s success heavily relies on forward sales to realize its full potential in terms of making a significant impact on the climate.
“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, such as Sustainable Aviation Fuel, and securing a sustainable future for agriculture and energy,” said Lee Blank, Chief Executive Officer of Summit Carbon Solutions. “We’re excited to partner with Anew Climate, a leader in the global voluntary carbon market, whose expertise will be crucial in realizing the full potential of our initiatives.”
This project will be the first to utilize a new BiCRS methodology approved and published by the Gold Standard for the Global Goals (GS4GG) – Biomass Fermentation with Carbon Capture and Storage. GS4GG is one of the leading global registries through which CDRs are verified and generated to ensure project quality, stakeholder consultation, safeguarding requirements, and sustainable development goals.
