Summit Carbon Solutions secures $1B in equity raise for CCS project

In New York state, Tiger Infrastructure Partners announced that portfolio company Summit Carbon Solutions, developer of the world’s largest carbon capture and storage project, completed its $1 billion equity raise including a $300 million commitment from TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise.

SCS is Tiger Infrastructure’s second partnership with Summit.  Tiger Infrastructure is also the largest institutional investor in Summit’s biofuels platform, FS, which has successfully built two large-scale corn ethanol plants in the state of Mato Grosso, Brazil, with a third plant currently under construction.  FS is powered by renewable biomass and has one of the lowest carbon footprints of any liquid transportation fuel produced at scale in the world driven by its use of second-crop corn and renewable energy.