Summit Carbon Solutions Announces Strategic Investment from Continental Resources
Vinson & Elkins advised Continental Resources, Inc. in its strategic investment in Summit Carbon Solutions to fund the development and construction of CO2 capture, transportation and sequestration infrastructure with initial capacity of up to 12.0 MMtpa and expansion capabilities up to 20.0 MMpta.
The project will primarily capture CO2 from ethanol plants and other industrial emitters in Iowa, Nebraska, Minnesota, North Dakota and South Dakota. Continental will commit to fund up to $250 million pursuant to its investment.
The V&E corporate team was led by partner Matt Falcone, with assistance from partner Dave Oelman, senior associate Megan Menniti and associates Jordan Fossee, Rob Vezina and Ryan Bullard. Other key team members are partners Todd Way and Sean Moran, counsel Mary Alexander and associate Dan Henderson; partner Matt Dobbins and associate Kelly Rondinelli; partner Sean Becker and associate Peter Goetschel; partner Damien Lyster; partner Julia Petty and associate Mary Daniel Morgan; partner Darren Tucker; and associate Mark Kramer.
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