Ringneck Energy CEO Walt Wendland has announced the company’s plans for partnering with Summit Carbon Solutions to make the clean energy produced in the plant even more environmentally friendly.
Through the partnership, 280,000 tons of carbon dioxide per year will be captured, transported and deposited deep underground through Summit Carbon Solutions’ transportation and sequestration platform.
“This would be a huge step in helping agriculture get to carbon neutral,” said Wendland.
Wendland says that the Ringneck Energy ethanol plant is already one of the more efficient plants in the industry. By partnering with Summit, the “benefit is even bigger.”
Summit will work with ethanol plants in addition to Ringneck in order to get to the 1.5 billion gallons needed to make the project feasible, and it may be several years before the carbon sequestration infrastructure is in place.
“Ringneck saw the value of a project like this as I’m sure other plants will as well,” said Wendland. “It will be a big deal if corn ethanol can capture carbon dioxide and put that underground – we become carbon neutral.”
Wendland says that he sees ethanol playing a big part in carbon footprint reduction nationwide. “Electric cars are being developed as a carbon reducing measure,” said Wendland. “We really think electric vehicles will be flex vehicles, and we’d like to be able to be part of that as an environmentally friendly fuel source that allows a car to go until it can be plugged in.”
“Creating an environmentally-friendly energy source has always been a top priority for our company,” said Wendland. “We are proud to join Summit Carbon Solutions on this transformational project so we can continue to create clean, safe, affordable energy for the rapidly growing low-carbon fuel markets.”
“We are grateful to be able to partner with Ringneck Energy on this project,” said Bruce Rastetter, CEO of Summit Agricultural Group. Ringneck Energy joins a progressive group of partner plants that are focused on lowering their carbon footprint in a safe, economical way that also helps secure a path of financial success.
Summit Agricultural Group is a diversified agribusiness operator and investment manager with operations in the United States and Brazil. Summit deploys capital across the agricultural supply chain with a particular focus at the intersection of agriculture and renewable energy. For more information, visit: www.summitag.com