CO2 NAVIGATOR, POET SIGNS A LETTER OF INTENT TO CAPTURE, TRANSPORT AND STORE FIVE (5) MILLION TONNES OF CO2 PER YEAR
Agreement outlines Navigator’s integrated CCUS services for approximately five (5) million metric tons of biogenic CO from POET2 each year and establishes a collaborative pathway for the development of a central carbon offset market and carbon utilization logistics platform. The system will gradually set up 18 of POET’s bioprocessing facilities across Iowa, Nebraskaand South Dakotaand is scheduled for operational commissioning in 2025.
“We recognize that now is the time to take bold action to preserve our planet for future generations,” said Jeff Broin, POET Founder and CEO. “POET has been a leader in low carbon biofuels and CO2 captured commercially for decades, and this project is another milestone in using bioprocessing to accelerate our path to net zero. We choose our partners carefully and believe Navigator has the expertise to bring long-term value to rural America by further positioning agricultural products as a viable source of low-carbon liquid fuels to power our future. . »
Both parties will leverage their respective expertise – leveraging Navigator’s unique scope and scale of infrastructure development, construction and operation and POET’s market-leading position in of CO2 distribution, marketing and logistics management. Joint Efforts Will Create Largest Combined Distribution Network of High-Quality Biogenic CO2.
“This agreement is a testament to two industries coming together and using their resources to pioneer innovative pathways to carbon neutrality and a more sustainable future. The breadth, scale and technical acumen of each party’s platform is unmatched,” said Matt Vining, CEO of Navigator. “POET is an industry pioneer who has built a company on the pillars of safety, integrity, innovation and being a good neighbor in the communities they call home, which fully align with Navigator’s culture and background. We look forward to this partnership with POET as we continue to fulfill our mission to provide sustainable carbon solutions to our communities, consumers and customers.”
With the addition of POET to the platform, Navigator’s Heartland Greenway system will provide CCUS services to more than 30 industrial processors across the agriculture and food production value chains, representing more than ten (10) million tonnes of annual CO2.2 emissions, including the two (2) largest bioethanol producers in United States, in addition to high-performance single-site production facilities. Navigator’s single platform will now leverage efforts to deliver up to 15 million tons per year of CCUS services through new lateral pipelines and parallel development of multiple storage sites.
About Navigator CO2 Companies
CO Browser2 Ventures is a company developed and managed by the Navigator Energy Services management team with over 180 years of collective industry experience. The company specializes in CCUS, and the management team has safely built and operated more than 1,300 miles of new infrastructure since its inception in 2012. We are committed to building and operating our projects to meet and exceed safety requirements while minimizing the collective impact on the environment. , landowners and the public during construction and ongoing operations. For more information on Navigator CO2 and the Heartland Greenway, visit our websites at: navigatorco2.com and heartlandgreenway.com.
About the POET
POET’s vision is to create a world in harmony with nature. As the world’s largest producer of biofuels and a global leader in sustainable bioproducts, POET creates plant-based alternatives to fossil fuels that unlock the regenerative power of agriculture and cultivate opportunity for America’s farm families. Founded in 1987 and based in Sioux Falls, POET operates 33 bioprocessing facilities in eight states and employs more than 2,200 team members. With a range of bioproducts that includes Dakota Gold and food NexPro, Voilà corn oil, purified alcohol, renewable CO2 and asphalt rejuvenator JIVE, POET fuels a relentless commitment to innovation and delivers powerful, practical solutions to some of the world’s most pressing challenges. Today, POET holds more than 80 patents worldwide and continues to innovate in the field of biotechnology, producing ever cleaner and more efficient renewable energy. In 2021, POET published its first sustainability report committing to carbon neutrality by 2050.
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SOURCE Browser CO2 Ventures LLC