Casselton, ND (AgNews890.com) – Summit Carbon Solutions announced today that Continental Resources Inc. has invested $250 million to create the largest carbon capture and sequestration project in the world in North Dakota.

During a press conference that was held at the Tharaldson Ethanol Plant in Casselton, ND Gov. Doug Burgum announced the Continental Resources will commit to $250 million over the next two years to help develop the project’s capture, transportation, and sequestration infrastructure.

Summit Carbon Solutions will be partnering with 31 ethanol plants across five states: Iowa, Minnesota, Nebraska, North Dakota and South Dakota. Carbon dioxide from the ethanol plants will be aggregated and transported via a 2,000-mile pipeline network to North Dakota, where it will be permanently and safely stored in underground rock formations.

Gov. Burgum issued the following statement:

“Combining the considerable resources and geologic expertise of one of North Dakota’s most productive and pioneering oil and gas operators with this visionary model of carbon capture and storage is a win-win-win for our farmers and ethanol plants, environmental stewardship and U.S. energy security,” Burgum said. “By capitalizing on our geologic jackpot of enormous underground storage capacity, we can safely store not only our own carbon dioxide but also our neighbors’ CO2 while creating jobs, generating income for North Dakota landowners and strengthening our economy.”

Summit Carbon Solutions said the project is on track to be operational in the first half of 2024.