Archer Daniels Midland Company said on Tuesday it had signed a letter of intent with Wolf Carbon Solutions to build a pipeline that would capture and transport carbon dioxide produced at ADM’s ethanol facilities at Clinton and Cedar Rapids, Iowa.

ADM said the 350-mile steel pipeline, capable of transporting 12 million tonnes of carbon dioxide per year, would support its decarbonization goals. The carbon would be stored underground at ADM’s sequestration site in Decatur, Illinois.

The pipeline would have spare capacity to serve ADM customers looking to decarbonize across the Midwest and Ohio River Valley, ADM said in a statement.

“This is an exciting opportunity for ADM to connect some of our largest processing facilities with our carbon capture capabilities,” Chris Cuddy, president, Carbohydrate Solutions for ADM, said in the statement.

“We look forward to working with Wolf Carbon Solutions to finalize this agreement and further decarbonize our operations and our industry.”