Agreement will accelerate development of largest fully permitted carbon storage site in the United States and position major carbon capture and storage projects for success

GRAND FORKS, N.D., April 28, 2022 /PRNewswire/ -- Minnkota Power Cooperative ("Minnkota"), a North Dakota-based electric generation and transmission cooperative, and Summit Carbon Solutions ("Summit"), an Iowa-based firm focused on the decarbonization of the agriculture and biofuels industries, have reached an agreement to co-develop carbon dioxide (CO₂) storage facilities near Center, North Dakota.

Minnkota and Summit have been working 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 Dakota, and Summit Carbon Solutions with the capture and permanent storage of CO₂ from dozens of ethanol plants across five states in the Upper Midwest. Now, by working together, Minnkota and Summit will more quickly, efficiently, and cost-effectively advance their projects to commercial operations.

The agreement provides Summit with access to Minnkota's already permitted 100-million-ton capacity CO₂ storage site near Center, North Dakota, the largest of only three such permitted sites in the United States. The agreement also creates the framework to jointly develop additional CO₂ storage resources nearby, which are estimated to have aggregate CO₂ storage exceeding 200 million tons. The collaboration is beneficial to both Minnkota's and Summit's projects, as it reduces risk, accelerates the timeline for financing and construction, and provides increased operational flexibility when CO₂ storage begins. These benefits importantly provide landowners an enhanced opportunity to maximize the value of the rock formations deep below the surface.

In addition to Minnkota's CO₂ storage facilities, Summit is independently developing storage facilities in North Dakota with estimated CO₂ storage resources to permanently store approximately 1 billion tons of CO₂, which is less than 1% of the estimated storge capacity in North Dakota.

"We are joining two of North Dakota's most prominent industries – agriculture and energy – to substantially lower CO₂ emissions, while helping preserve American energy security," said Mac McLennan, Minnkota President and CEO. "If our nation is to stay competitive during the energy transition, it will require multiple states and industries working together. Our hope is that this effort can serve as a blueprint for the collaborative thinking that is needed to drive energy innovation forward."

"Summit Carbon Solutions is thrilled to team with Minnkota to accelerate our project and the decarbonization of biofuels and agriculture, which will greatly enhance the economic sustainability of those 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 every year, which will improve environmental outcomes while supporting industries critical to our region's future."

Safety and environmental stewardship are vitally important to both Minnkota and Summit. Once the storage facilities are operational, CO₂ will be permanently stored approximately one mile underground in suitable geologic formations. The geology in the region has been thoroughly studied and tested to ensure that safety and environmental stewardship can be maintained. The stringent permitting processes required by the United States Environmental Protection Agency and the North Dakota Industrial Commission ensure the safe injection of CO₂ into secure geologic storage formations with constant monitoring to protect the lowermost United States sources of drinking water, and to ensure the 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 all development continues to be transparent and collaborative.

Project Tundra is a bold initiative to build the world's largest post-combustion carbon capture system at the Milton R. Young Station near Center, North Dakota. The project is being led by Minnkota Power Cooperative, a generation and transmission cooperative serving eastern North Dakota and northwestern Minnesota. For more information, visit www.ProjectTundraND.com.

Summit Carbon Solutions seeks to lower greenhouse gas emissions by connecting 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.

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SOURCE Summit Carbon Solutions