Summit Carbon Solutions Announces Financial Advisor Engagements | News

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AMES, Iowa, February 18, 2022 /PRNewswire/ — Summit Carbon Solutions, developer of the world’s largest carbon capture and storage project, announced that it has engaged Morgan Stanley and CohnReznick Capital as financial structuring advisors to Summit. $4.5 billion project, which will be able to permanently capture and store more than 12 million tonnes per year of carbon dioxide.

Morgan Stanley will lead all project-level debt structuring advisory services, and CohnReznick Capital will advise Summit on tax equity financing.

“Since launching Summit Carbon Solutions, we have seen a significant increase in market interest in the carbon capture space,” said Aaron Hood, Chief Financial Officer of Summit Carbon Solutions. Mr. Hood noted that Morgan Stanley and CohnReznick’s longstanding leadership in sustainability, as well as their industry and technical knowledge of the project finance and tax fairness markets, would provide strong execution to support Summit Carbon Solutions’ carbon capture and storage system. “As we continue to engage and work with all stakeholders to develop and build the largest and most advanced interstate carbon capture and storage system in the world, we are excited to work with these two companies. “

The Summit Carbon Solutions project, scheduled for completion in the first half of 2024, will connect more than 30 ethanol and nitrogen production facilities in the states of Iowa, Minnesota, North Dakota, South Dakota, and Nebraska. The carbon dioxide captured from these production facilities will be aggregated and transported through a network of pipelines approximately 2,000 miles, terminating at North Dakotawhere carbon dioxide will be stored safely and permanently in deep underground geological formations.

Summit Carbon Solutions seeks to reduce greenhouse gas emissions by connecting industrial facilities 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

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