Summit Carbon Solutions | February 10, 2022
On the heels of submitting its pipeline permit application in Iowa in late January, Summit Carbon Solutions announced that it filed its pipeline permit application with the South Dakota Public Utilities Commission Monday.
Summit's carbon capture and storage project will connect ethanol biorefineries across five states in the upper Midwest – Iowa, Minnesota, Nebraska, North Dakota, and South Dakota. Seven ethanol biorefineries in South Dakota have partnered with Summit along its approximately 469-mile route across the state.
"Summit Carbon Solutions' project will benefit farmers across the state by maintaining a strong corn market while supporting ethanol producers. The project will also provide tax revenue for the counties along the route and help the environment," said Walt Wendland, CEO of Ringneck Energy, one of Summit Carbon Solutions' ethanol plant partners in South Dakota.
By capturing and permanently storing carbon dioxide emissions from partner ethanol biorefineries, Summit Carbon Solutions will cut the carbon footprint of their ethanol in half, which will help ensure the long term environmental and economic sustainability of ethanol facilities in South Dakota. Ethanol plants purchase approximately half of the corn grown in South Dakota and represent a vital market for South Dakota farmers.
"Summit Carbon Solutions will be transformational for the agriculture industry throughout South Dakota. Our team understands the challenges the agriculture and biofuels industries face year in and year out, and we're focused on working with producers to help improve their sustainability and position them well for decades to come."
Bruce Rastetter, CEO of Summit Agricultural Group
Summit Carbon Solutions seeks to lower greenhouse gas emissions by connecting industrial facilities via strategic infrastructure to store carbon dioxide safely and permanently in the Midwestern United States.
UGI Corporation | January 06, 2022
UGI Corporation announced today that it has entered into a 15-year agreement with California-based technology developer, Vertimass, to utilize their catalytic technology to produce renewable fuels from renewable-ethanol in the U.S. and Europe.
The agreement centers on the development of production facilities using Vertimass’ catalytic technology to convert renewable ethanol into renewable-propane and sustainable aviation fuel (SAF). The technology enables flexible production of the renewable fuels to align with regional market demand. Up to 50% of the total production capacity from the facilities can be renewable-propane that will support UGI’s ongoing efforts to provide innovative, low-carbon, sustainable energy solutions to its customers.
UGI expects to invest either solely, jointly with Vertimass or in partnership with third parties to build and operate multiple production facilities over the next 15 years in locations across the U.S. and Europe, significantly increasing the supply of renewable-propane and SAF. UGI anticipates a total investment of roughly $500 million for the bolt-on production facilities over a 15-year period, including potential third party investment, with total production target from these aggregated facilities of approximately 1 billion gallons of combined renewable fuels per annum. The goal is to have the first production facility onstream in fiscal year 2024 with an annual production target of approximately 50 million gallons of combined renewable fuels.
Vertimass employs catalytic technology to convert renewable ethanol and other renewable alcohols into renewable hydrocarbon fuels that are compatible with the existing equipment and infrastructure. This technology can be bolted on to existing ethanol production facilities, optimizing GHG emissions reduction, and bringing further end product diversification to the existing ethanol producer. The introduction of such ethanol-based “bio-refineries” is an attractive proposition for skilled job development and the opportunity to further drive energy independence using local resources.
“This is another significant milestone in our commitment to providing renewable fuels to our customers. Our business development team continues to seek out innovative opportunities and I am delighted with our newly established partnership with Vertimass. We believe this partnership will deliver significant renewable LPG for our customers as well as bring investment opportunity to interested stakeholders.”
Roger Perreault, President and Chief Executive Officer of UGI Corporation
Charles Wyman, Vertimass President and Chief Executive Officer, continued “Vertimass is extremely excited to work with UGI to commercialize our breakthrough technology. UGI and Vertimass have built strong relationships over the last year, which we believe will cement success.” Bill Shopoff, Vertimass Chair, noted “Together we will take advantage of this unique low-cost technology to transform ethanol facilities and produce renewable fuels that will cover UGI’s global footprint, as well as enable the production of SAF.”
More About the Technology
Vertimass is developing a unique Consolidated Alcohol Deoxygenation and Oligomerization technology to allow produce sustainable aviation fuel (SAF) and diesel blendstocks that are compatible with the current transportation fuel infrastructure as well as LPG eliminate the ethanol “blend wall” by converting ethanol into fungible gasoline components for powering light duty vehicles, produce intermediates used to make plastics and other higher value products, and possibly debottleneck processes to increase throughput with little additional costs other than for feedstock. CADO completely converts wet ethanol into targeted hydrocarbons in a simple reactor system at moderate temperatures and near atmospheric pressure without adding hydrogen. Other benefits include the ability to lower plant water usage, reduce overall energy consumption, and drop GHG emissions to levels required for the Renewable Fuel Standard (RFS) Advanced Biofuel category.
Introduction to Renewable-LPG (Renewable Propane)
Renewable LPG, also known as renewable-propane, is chemically identical to today’s fossil LPG and therefore can be used with existing infrastructure. It has up to 80% lower carbon footprint than that of conventional LPG.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, distributes LPG both domestically and internationally, manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.
Vertimass LLC is based in Irvine, California. The mission of Vertimass LLC is to develop and widely license breakthrough technologies that substantially expand production of sustainable transportation fuels and chemicals that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization of proprietary Vertimass technology can overcome the blend wall that currently impedes expansion of ethanol production from multiple sources of biomass and open up large new markets for aircraft and heavy-duty vehicle fuels and for chemicals not currently amenable to ethanol.
Plastic Energy and TotalEnergies | January 11, 2022
Plastic Energy and TotalEnergies have announced a new agreement to promote the development of advanced plastic recycling. Under this agreement, Plastic Energy plans to build a second advanced recycling plant in Sevilla, Spain, in addition to their existing operational plant, which will transform end-of-life plastic waste into a recycled feedstock called TACOIL using Plastic Energy’s patented recycling technology. TotalEnergies will convert this raw material into virgin-quality polymers, which can be used for food-grade packaging.
The plant will process and convert 33,000 tons of post-consumer end-of-life plastic waste yearly, that would otherwise be destined for landfill or incineration. The plant is expected to become operational in early 2025, with TACOIL to be used for the manufacturing of high-quality polymers in TotalEnergies’ European-based production units, following a successful processing experimentation in TotalEnergies’ petrochemical platform in Antwerp. With identical properties to virgin ones, the recycled polymers will be suitable for use in food-grade applications, such as flexible and rigid food packaging containers.
Plastic Energy and TotalEnergies are both firmly committed to develop plastics recycling to address the issue of plastic waste, and to build a circular economy in Europe and globally. In line with this commitment, TotalEnergies and Plastic Energy have announced in September 2020 a joint venture to build a plastic waste conversion facility with a capacity of 15,000 tonnes per year at the TotalEnergies Grandpuits zero-crude platform in France. The project is expected to be operational in 2023.
Additionally, Plastic Energy, Freepoint Eco-Systems and TotalEnergies announced a strategic partnership in October 2021 for a similar recycling plant in Texas, U.S.A. This plant, which is a joint venture between Plastic Energy and Freepoint Eco-systems, will have the capacity to recycle 33,000 tonnes of plastic waste per year, and is expected to be operational by mid-2024. Under the agreement, TACOIL will be converted by TotalEnergies in its Texas-based production units.
“I am pleased to announce another new Plastic Energy plant in Spain, and a new collaboration agreement with our partner, TotalEnergies. This new large-scale recycling plant will be an impactful addition to our existing portfolio of operational plants in Spain and will allow for an increase in the amount of end-of-life plastics that we can recycle in Europe.”
Carlos Monreal, founder and CEO of Plastic Energy
“This new project with Plastic Energy in Spain follows two collaboration projects already announced in France and the U.S. Those projects contribute to addressing the challenge of the circular economy and to our ambition of producing 30% recycled and renewable polymers by 2030,” said Valérie Goff, Senior Vice President, Polymers at TotalEnergies.
About Plastic Energy Ltd.
Plastic Energy is a global leader in chemical recycling, offering a sustainable solution to help prevent plastic waste, transforming previously unrecyclable plastic waste into a valuable resource. Our patented and proven chemical recycling technology converts end-of-life plastic waste into an optimal feedstock (TACOIL) for making virgin-quality recycled plastics. Plastic Energy currently has two chemical recycling plants that are in constant operation in Spain and is one of the few companies worldwide that has sold TACOIL from the conversion of end-of-life plastic waste to replace fossil oils in the manufacturing of new plastics. We are leading our field in the transition to a low-carbon circular economy for plastics.
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Carbon Streaming | April 25, 2022
Carbon Streaming Corporation is pleased to provide an update on its investment pipeline as the Company continues to build a diversified portfolio of high-quality carbon streaming investments around the globe.
The Indonesian government has temporarily paused validation of carbon credits from projects on the Verra Registry as it seeks to finalize its national carbon policy. The Company maintains a carbon stream investment in the Rimba Raya Biodiversity Reserve Project which may be impacted by this temporary pause. Rimba Raya was among the first Verra registered REDD+ projects and has forged a long history of success, having over 31.8 million verified carbon credits issued by Verra since 2013.
Jim Procanik, Managing Director of InfiniteEARTH Limited added his thoughts, "As we understand it, the Indonesian government is poised to release its national carbon policy framework, and as such, the Ministry of Environment & Forestry has asked industry participants to pause further project validations. Given that the term "validation" indicates the first audit of a new project, we have no reason to believe this applies to InfiniteEARTH's Rimba Raya project since it has over 12 years of history with multiple verifications behind it.”
Mr. Procanik continued, “While Rimba Raya had its sixth verification audit scheduled, in consideration of the potentially imminent regulations, we will synchronize the timing of that audit to conform to the signing of the new regulations. Regulations in the carbon sector are rapidly developing, for example, at the end of 2021, PT Rimba Raya received a renewed concession license under the new rules. We continue to cooperate and communicate with the MOEF to ensure that our activities are in compliance with the dynamic regulatory landscape, and we remain in good standing. We are very pleased with the regulatory progress and welcome the clarity it will bring the carbon sector in Indonesia."
“We welcome the Indonesian government’s leadership in establishing a parallel national carbon registry and expect to see more of this from host countries as governments seek to set and achieve their own Nationally Determined Contribution. We remain patient and respectful of the MOEF’s process and are encouraged by Rimba Raya’s recently renewed license.”
Carbon Streaming Founder and CEO Justin Cochrane
Mr. Cochrane further affirmed, “We also applaud Verra for implementing several new initiatives and tools to streamline its credit issuance process to ensure timely verification of carbon credits and to reduce the backlog that currently exists for new and existing projects. Carbon Streaming continues to expect delivery of Rimba Raya carbon credits in calendar year 2022.”
The Company continues to advance towards a potential listing of its common shares and listed warrants on The Nasdaq Stock Market LLC. Listing of the Company's common shares and listed warrants on Nasdaq remains subject to the approval of Nasdaq and the satisfaction of all applicable listing and regulatory requirements. Following receipt of all required approvals, the Company will issue a news release announcing its first trading date on Nasdaq.
InfiniteEARTH is a Hong Kong-based project development company that develops and manages conservation land banks and provides environmental offsets and corporate social responsibility solutions to companies across the globe. The company was formed in 2008 with the goal of creating the Rimba Raya Project, a 64,500-hectare peat forest in Central Kalimantan, Indonesia. Rimba Raya is one of the world’s largest REDD+ projects. The project eradicates deforestation, promotes conservation of local wildlife and sells carbon credits based on the carbon rich forest which was previously gazetted for conversion to palm oil.
InfiniteEARTH’s projects focus on the preservation of endangered species habitat, High Conservation Value and High Carbon Stock Forests, and National Parks through the creation of social and physical buffer zones. All projects are designed to meet the UN Sustainable Development Goals by funding sustainable development in rural communities through capacity building, transfer of low-impact technologies such as solar and fuel-efficient cookstoves, aquaponics, agro-forestry models, and social benefits programs such as health care and early childhood education materials.
About Carbon Streaming
Carbon Streaming is a unique ESG principled company offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.
The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects will have significant social and economic co-benefits in addition to their carbon reduction or removal potential.