Summit Says Carbon Pipeline Voluntary Easements Surpass 82% in Floyd County
The first company to propose building a carbon capture pipeline in Floyd County says the number of voluntary easements with landowners continues to grow.
Summit Carbon Solutions wants to include Floyd County as part of its Midwest Carbon Express pipeline, which would start at the Homeland Energy Solutions ethanol plant between Lawler and New Hampton. It would then go west through Chickasaw County into Floyd, and Cerro Gordo counties among others.
Tuesday, Summit issued a statement indicating they have secured easement agreements with landowners accounting for 82% of its proposed pipeline route in Floyd County. In addition, the company says they “will invest $22.7 million during construction, which are dollars that will flow back to hotels, restaurants, hardware stores and other local businesses to generate economic growth in Floyd County.”
Summit adds that, after construction, according to a study by global accounting leader Ernst & Young, the company will pay an average of $870,000 in new property taxes annually in Floyd County.
Summit has filed their permit application with the Iowa Utilities Board (IUB), which isn’t expected to rule on the application until March. If approved, Summit could begin construction late next summer or early fall.
Navigator CO2 Ventures also wants to build a branch of its Heartland Navigator carbon pipeline starting at the Valero Renewables ethanol plant west of Charles City. It would go south into Butler County and connect with POET Bioprocessing plant at Shell Rock.