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Wolf Carbon Solutions, ADM Announce Partnership to Advance Decarbonization of Ethanol Production
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Wolf Carbon Solutions and ADM have signed a Letter of Intent to develop a carbon dioxide pipeline to further decarbonize ADM's operations. The 350-mile pipeline will transport up to 12 million tons of CO2 annually from ADM's facilities in Clinton and Cedar Rapids to a sequestration site in Decatur, Illinois. This initiative aims to enhance ESG commitments and carbon reduction efforts, showcasing ADM's leadership in the low carbon transition and its substantial experience in CO2 sequestration.
Positive
Signing a Letter of Intent with Wolf Carbon Solutions to develop a carbon pipeline enhances ADM's sustainability initiatives.
The pipeline will have a capacity of 12 million tons of CO2 per year, significantly boosting decarbonization efforts.
ADM has a proven track record, having safely stored over 3.5 million metric tons of CO2 in Decatur.
Negative
None.
DENVER & CHICAGO--(BUSINESS WIRE)--
Wolf Carbon Solutions US LLC (Wolf Carbon Solutions) and ADM (NYSE: ADM), a global leader in nutrition and agricultural origination and processing, today announced that they have signed a Letter of Intent paving the pathway toward further decarbonization of ADM’s footprint via construction of a pipeline – developed, owned and operated by Wolf Carbon Solutions – which, together with a commercial agreement, will allow for the capture, compression and transportation of carbon dioxide produced at ADM’s Clinton and Cedar Rapids, Iowa, facilities.
Designed as the backbone infrastructure needed to support the region’s lower carbon transition, the 350-mile steel trunk line will be capable of transporting 12 million tons of CO2 per year. The pipeline will offer dedicated capacity to transport CO2 from ADM’s ethanol and cogeneration facilities in Clinton and Cedar Rapids to be stored permanently underground at ADM’s fully permitted and already-operational sequestration site in Decatur, Illinois. The pipeline would have significant spare capacity to serve other third-party customers looking to decarbonize across the Midwest and Ohio River Valley.
“This partnership is an excellent example of industries working together to decarbonize and deliver upon their ESG strategies and commitments,” said David Schmunk, President, Wolf Carbon Solutions. “Our organizations offer a great combination of complementary skills and experience — ADM with more than 10 years of experience owning and operating CO2 sequestration wells, and the Wolf Carbon Solutions team with expertise in owning and operating carbon capture facilities and pipeline transportation systems, including North America’s largest third-party CO2 pipeline in Alberta, Canada. We are delighted to share our expertise to further the effort to develop low carbon fuels in the U.S.”
ADM’s carbon capture and sequestration capabilities in Decatur have allowed it to safely and permanently store more than 3.5 million metric tons of CO2 a mile and a half under the surface of the earth, and have paved the way for increased decarbonization of the company’s operations, including its announcements in 2021 of a partnership to construct a zero-emissions power plant adjacent to the company’s Decatur corn complex, and its achievement of the wheat milling industry’s first carbon-neutral footprint.
“ADM is continuing to lead the way to decarbonize the industries in which we operate,” said Chris Cuddy, President, Carbohydrate Solutions for ADM. “Customers are increasingly turning to us to help them meet their Scope 3 emissions commitments with low carbon-intensity sustainable solutions. This is an exciting opportunity for ADM to connect some of our largest processing facilities with our carbon capture capabilities, advancing our work to significantly reduce our CO2 emissions while delivering sustainable solutions for our customers. These efforts are core to our purpose, our culture and our growth, and we look forward to working with Wolf Carbon Solutions to finalize this agreement and further decarbonize our operations and our industry.”
Wolf Carbon Solutions US LLC (Wolf Carbon Solutions) is a private company backed by Canada Pension Plan Investment Board (CPP Investments). Wolf Carbon Solutions is an affiliate of Wolf Midstream (Wolf), a $4 billion multi-faceted energy infrastructure organization based in Calgary, Alberta. The company is committed to transforming the future of carbon reduction through the development of world-scale CO2 infrastructure in the U.S. and Canada. Wolf constructed and operates the Alberta Carbon Trunk Line (ACTL) system – a fully-integrated, world-scale carbon capture, utilization and storage (CCUS) system that captures, transports and permanently sequesters CO2 that would otherwise be emitted to atmosphere. The ACTL system has safely delivered over two million tons of CO2 to permanent storage since the system began operations in 2020.
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.
