Chad Smith, NAFB News Service
Growth Energy CEO Emily Skor says ethanol plants are ready to capture more carbon. She submitted comments on the Internal Revenue Service’s proposed regulations under section 45Q. It’s a performance-based tax credit for carbon capture projects. In her comments, Skor asks the agency to offer credit for carbon dioxide captured for food and beverage purposes, which would promote investment in new carbon capture capabilities and ensure that the food and beverage industry is not forced to tap alternative sources of carbon dioxide. “The ethanol industry has more than 50 projects that on average capture 99,000 to 153,000 tons of carbon dioxide annually,” Skor says. “These facilities both capture qualified carbon oxides or are in the process of financing projects to capture and sequester carbon oxides.” She adds that more projects are on the way and 45Q can help accelerate that process. Without the tax credit, food and beverage producers may have to rely on non-renewable sources of carbon dioxide.