(Radio Iowa) – One of the companies proposing to build a carbon pipeline through Iowa has announced it has raised more than a billion dollars for its project. According to a news release from Summit Carbon Solutions, the company has secured 300 million dollars from a private equity firm called T-P-G Rise Climate and that completes the fundraising for its pipeline. In a written statement, the executive chairman of the investment group said the global fight against climate change requires an all-of-the-above approach to decarbonization.

Summit plans to build a pipeline to ship carbon captured at Midwest ethanol plants to underground storage in North Dakota.