ADM Announces Successful Completion of One Million Metric Ton Carbon Capture and Storage Project

Rhea-AI Summary

ADM (NYSE: ADM) and the University of Illinois have successfully completed the Illinois Basin - Decatur Project (IBDP), a pioneering carbon capture and storage (CCS) initiative. Funded by the U.S. Department of Energy, this project demonstrates the capability of the Mt. Simon Sandstone to store up to one million metric tons of CO2. This achievement aligns with ADM's Strive 35 sustainability goals, aiming for a 25% reduction in greenhouse gas emissions by 2025. Over 3.4 million metric tons of CO2 have been stored across two projects, part of a larger effort to combat climate change.

Positive

• Successful completion of the Illinois Basin - Decatur Project, demonstrating effective carbon capture and storage.
• Total storage of over 3.4 million metric tons of CO2 across two projects.
• Alignment with ADM's Strive 35 sustainability goals for reducing greenhouse gas emissions by 25%.

Negative

• None.

ADM (NYSE: ADM) and the University of Illinois announced today the successful completion of the Illinois Basin - Decatur Project (IBDP), a carbon capture and storage (CCS) project designed to evaluate and test the technology at commercial scale. This is one of two CCS projects located adjacent to ADM’s corn processing plant in Decatur, Illinois.

The first-of-its-kind project was primarily funded through the Midwest Geological Sequestration Consortium (MGSC) by the U.S. Department of Energy – National Energy Technology Laboratory with the goal to confirm the ability of the Mt. Simon Sandstone to accept and store one million metric tons of carbon dioxide over a period of three years, the equivalent of annual emissions from about 1.2 million passenger cars according to EPA calculations. Working together through the MGSC, the Illinois State Geological Survey at the University of Illinois designed, implemented, and monitored the project and ADM was the host and operator.

“ADM is committed to leveraging innovation and technology to advance sustainability across every aspect of our business. Deploying carbon capture and storage technology in our processing operations is one of the many ways we are reducing our environmental footprint,” said Alison Taylor, Chief Sustainability Officer, ADM.

As part of its Strive 35 sustainability goals, ADM aims to reduce absolute greenhouse gas emissions by 25% against a 2019 baseline.

“Today’s announcement marks an important milestone, not only for the Illinois Basin - Decatur Project but also for the advancement of CCS to combat the climate crisis,” said Dr. Jennifer Wilcox, Acting Assistant Secretary for Fossil Energy and Carbon Management at the U.S. Department of Energy. “We congratulate ADM and the University of Illinois, and we’re proud to be a part of this achievement.”

The project utilized 20,000 feet of wells to successfully inject carbon dioxide from ADM’s processing plant more than 6,500 feet underground. More than 2,000 visitors from 30 countries have come to the site throughout the project to learn more about the process and technology.

“The Illinois Basin - Decatur project has successfully achieved its desired outcome to demonstrate that carbon capture and storage can be undertaken safely and effectively. This milestone represents a launching point for the future of this technology, including commercial scale deployments around the world,” said Sallie Greenberg, Principal Scientist Energy & Minerals, Illinois State Geological Survey.

“Addressing climate change in a meaningful way requires carbon emission reductions across the board,” U.S. Senator Dick Durbin (D-IL) said. “The Illinois Basin - Decatur Project shows how carbon capture and storage can play an important role in reducing these emissions. I congratulate ADM and the University of Illinois on reaching this milestone, and will continue advocating for federal investments in a clean energy economy.”

“Agribusiness leaders and producers have a vital role to play in reducing our carbon footprint, and game-changing innovation to do just that is occurring right here in central Illinois,” said Congressman Rodney Davis (IL-13). “ADM and the U of I’s partnership to capture and store carbon underground will serve as a global model on how to reduce emissions. I’d like to thank ADM and the U of I for proactively taking on this project.”

ADM also began injection operations at a second CCS project, the Illinois Industrial Sources Carbon Capture and Storage Project, in Decatur in April 2017. The project is currently permitted to operate through 2022 and has the potential to store up to 5.5 million metric tons of carbon dioxide.

Collectively, these two projects have successfully stored more than 3.4 million metric tons to date.

About Illinois State Geological Survey

The Illinois State Geological Survey (ISGS) is part of the Prairie Research Institute at the University of Illinois at Urbana-Champaign. The ISGS is a premier state Geological Survey serving the needs of Illinois with earth science information relevant to the State's environmental quality, economic vitality, and public safety.

About ADM

At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.

Source: Corporate Release

View source version on businesswire.com: https://www.businesswire.com/news/home/20210519005563/en/

FAQ

What is the Illinois Basin - Decatur Project (IBDP) related to ADM?

The Illinois Basin - Decatur Project is a carbon capture and storage initiative completed by ADM and the University of Illinois, aimed at demonstrating effective CO2 storage.

How much CO2 has the Illinois Basin - Decatur Project successfully stored?

The project has successfully stored over 1 million metric tons of CO2.

What are ADM's sustainability goals?

ADM aims to reduce absolute greenhouse gas emissions by 25% by 2025 as part of its Strive 35 sustainability goals.

When was the Illinois Basin - Decatur Project completed?

The project was completed recently, with significant achievements announced in a press release.

Who funded the Illinois Basin - Decatur Project?

The project was funded by the U.S. Department of Energy through the Midwest Geological Sequestration Consortium.