M&G invests unknown amount in Summit Carbon Solutions

In Iowa, M&G’s Alternatives team through an external partner has invested in Summit Carbon Solutions, a company which aims to dramatically lower the carbon footprint of ethanol biorefineries and other industrial emitters throughout the Midwestern United States. The amount of the investment was not disclosed. The company plans to install carbon capture equipment at industrial facilities, develop a pipeline network to aggregate and transport CO2 to sequestration sites and drill and operate injection wells.

Once fully developed, the company’s infrastructure network should be capable of capturing and permanently storing more than 10 million tons of CO2 annually – the equivalent of taking 2 million cars off the road per year.