POET has pledged to lower the carbon intensity of our bioethanol by 70% compared to gasoline by 2030 and achieve carbon neutrality at all of our facilities by 2050. Carbon Capture, Utilization, and Storage (CCUS) can help us get there.
POET recently signed a Letter of Intent with Navigator CO2 Ventures to join the Heartland Greenway system. The system will phase in 18 of POET's bioprocessing facilities across Iowa, Nebraska, and South Dakota. These locations represent a combined annual production capacity of 1.7 billion gallons of bioethanol and approximately 5 million metric tons of POET's biogenic CO2. The system is on schedule for operations in 2025.
At POET, we take our responsibility to be good neighbors and stewards of the Earth very seriously. We spent many months doing our due diligence regarding the Navigator system's long-term viability and safety.
Navigator has an experienced team with an impressive track record and will utilize state-of-the-art technologies. The Heartland Greenway system will also add value to POET's existing bioCO2 business while we continue to grow and strengthen our POET Pure bioproducts line.
POET has been a market leader in low-carbon biofuels and commercial CO2 for decades. This system is another significant step in utilizing bioprocessing to accelerate our path to net-zero.
The POET Bioprocessing facilities that will be phased into the system include: