PEKIN, Ill. - Alto Ingredients, Inc. (NASDAQ:ALTO), a leading producer of specialty alcohols and renewable fuel in the U.S., has announced its plans to collaborate with Vault 44.01 on a carbon capture and storage (CCS) initiative at its Pekin campus.
The nonbinding letter of intent, set to evolve into definitive agreements, outlines a strategy to capture carbon dioxide emissions from ethanol production and securely store them underground.
The Pekin facility, responsible for producing around 250 million gallons of specialty alcohols and renewable fuel annually, also generates over 600,000 metric tons of CO2 as a by-product. The proposed CCS project aims to significantly reduce these emissions, thereby providing environmental and economic benefits to the local area.
Bryon McGregor, President and CEO of Alto Ingredients, emphasized the project's alignment with the company's commitment to lower carbon impact and deliver value to shareholders and communities. Vault's President and CEO, Scott Rennie, echoed this sentiment, highlighting the importance of local CCS solutions.
Alto Ingredients serves various markets, including health, home & beauty, and food & beverage, supplying major companies with essential ingredients. Vault 44.01, supported by Grey Rock Investment Partners, specializes in the development and operation of carbon storage assets in North America, with six projects currently underway.
This partnership is poised to enhance the Pekin campus's sustainability and contribute to the broader goal of reducing atmospheric carbon dioxide. Both companies are actively engaging with stakeholders to advance the project while ensuring safety and quality.
The collaboration is based on a press release statement from Alto Ingredients, Inc. and does not include speculation on the potential impact or trends within the broader industry. The information reflects the company's current plans, which may change depending on various factors, including market conditions and regulatory requirements.
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