December 5th, 2009
Dow Jones Newswires is reporting that US Department of Energy has awarded $979 million in federal stimulus funds to support carbon-capture and -storage projects at three coal- fired power plants in Texas, Alabama, and West Virginia.
The federal funds will be added to about $2.2 billion in private capital to help the greenhouse-gas emission-reduction projects move forward, U.S. Energy Secretary Steven Chu said.“By harnessing the power of science and technology, we can reduce carbon emissions and create new clean energy jobs,” Chu said in a statement.
Carbon capture technology couple become a major component of the Cap & Trade system if that energy legislation makes it throguh Congress.