One of the companies proposing to build a carbon pipeline through Iowa has announced it has raised more than a billion dollars for its project.
According to a news release from Summit Carbon Solutions, the company has secured 300 million dollars from a private equity firm called TPG Rise Climate and that completes the fundraising for its pipeline.
In a written statement, the executive chairman of the investment group said “the global fight against climate change requires an all-of-the-above approach to decarbonization.”
Summit plans to build a pipeline to ship carbon captured at Midwest ethanol plants to underground storage in North Dakota.
