Thursday, January 28, 2010

$3 Billion Investment for Carbon Capture and Sequestration

See this important environmental industry press release posted on the U.S. Department of Energy website.

US Energy Secretary Steven Chu announced today the selection of three new projects with a value of $3.18 billion to accelerate the development of advanced coal technologies with carbon capture and storage at commercial-scale. Secretary Chu made today’s announcement on a conference call with Governor Joe Manchin, Senator Jay Rockefeller, and President of American Electric Power Company, Inc., Mike Morris.

These projects will help to enable commercial deployment to ensure the United States has clean, reliable, and affordable electricity and power. An investment of up to $979 million, including funds from the American Recovery and Reinvestment Act, will be leveraged by more than $2.2 billion in private capital cost share as part of the third round of the Department’s Clean Coal Power Initiative (CCPI).

See the press government release..

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