Tiger Infrastructure Partners has agreed to invest in Summit Carbon Solutions, an agribusiness operator and investment manager with operations in the U.S. and Brazil. No financial terms were disclosed.
NEW YORK, April 20, 2021 /PRNewswire/ — Tiger Infrastructure Partners (“Tiger Infrastructure”) announced today an agreement to invest in Summit Carbon Solutions (“SCS”), a new business platform that will address the global challenge of decarbonization by developing the world’s largest carbon capture and storage project. The company will accelerate the transition toward sustainable, renewable energy by dramatically lowering the carbon footprint of biorefineries and other industrial emitters of carbon dioxide throughout the Midwestern region of the United States.
When fully developed, SCS will have an infrastructure network capable of capturing and permanently storing more than 10 million tons of carbon dioxide annually, which is equivalent to taking 2 million cars off the road per year. In addition to the project’s positive environmental impact, it will enhance the economic prospects of the biofuels and agriculture industries, while providing tremendous benefits to communities across the Midwest in the form of significant private investment and job creation. The company has already secured binding agreements with a select group of leading biorefiners located in Iowa, Minnesota, South Dakota and North Dakota to partner with SCS for carbon dioxide offtake.
This will be Tiger Infrastructure’s second partnership with Iowa-based Summit Agricultural Group (“Summit”), the sponsor of the SCS platform. Tiger Infrastructure is 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. 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 FS’s use of second-crop corn and renewable energy.
Emil W. Henry, Jr., CEO and Managing Director of Tiger Infrastructure, commented: “I am honored for Tiger Infrastructure to be selected by Bruce Rastetter and his partners as their initial institutional financial partner for this visionary carbon sequestration project. We believe this project will be best in class for large scale carbon sequestration. Our participation in this project follows a successful and rewarding partnership with Summit in creating one of the largest ethanol businesses in Brazil, a renewable energy company that demonstrates best in class international standards for responsible ESG-investing.”
Bruce Rastetter, CEO of Summit, added: “Summit has had a long and successful business history with Tiger Infrastructure, and I believe they are the preeminent private equity firm providing transformational growth capital for infrastructure projects. They bring a wealth of relevant experience, relationships, and skills critical to execute on this exciting and ground-breaking project.”
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is a middle-market private equity firm that invests in growing infrastructure platforms. Tiger Infrastructure targets investments in communications, energy transition, transportation, and related sectors, primarily located in North America and Europe. For more information, visit www.tigerinfrastructure.com.
About Summit Agriculture Group
Summit Agricultural Group is a diversified agribusiness operator and investment manager with operations in the United States and Brazil. Summit deploys capital across the agricultural supply chain with a particular focus at the intersection of agriculture and renewable energy. For more information on Summit Carbon Solutions, visit www.summitcarbonsolutions.com.