Summit Carbon Solutions’ Completion of $1+ Billion Equity Raise

Milbank advised Summit Carbon Solutions on the deal.

Summit Carbon Solutions announced its successful completion of equity fundraising efforts, which have resulted in over $1 billion in total equity commitments from SK E&S Co., TPG Inc. and Continental Resources, Inc. 

This is the largest carbon capture and sequestration project of its kind in the world. The project will capture and permanently store up to 20 million tons per year of carbon dioxide from dozens of ethanol and other industrial facilities across the Midwestern United States.

Summit Carbon Solutions is on track to be operational by early 2024.

The Milbank deal team was led by Global Corporate partner Brett Goldblatt (Picture), along with associates Natalie Chitayat, Alexander Shapos, and Ari Tuchman. The team also included Tax partner Max Goodman and associate David Hanno, Executive Compensation and Employee Benefits associate James Beebe, Litigation special counsel Nathaniel Browand, as well as Real Estate associate Kevin Mu.

 

Involved fees earner: James Beebe – Milbank LLP; Nathaniel Browand – Milbank LLP; Natalie Chitayat – Milbank LLP; Brett Goldblatt – Milbank LLP; Max Goodman – Milbank LLP; David Hanno – Milbank LLP; Kevin Mu – Milbank LLP; Alexander Shapos – Milbank LLP; Ari Tuchman – Milbank LLP;

Law Firms: Milbank LLP;

Clients: Summit Carbon Solutions;

Martina Bellini

Author: Martina Bellini