FutureGen is a public-private $1 billion dollar cost share project to build and operate the world's first, near zero emission power plant...
...The prototype plant will have capacity designed to supply 150,000 homes about 275 MW.

The project will employ coal gasification technology where hydrogen, carbon monoxide are extracted from the coal. This mix-gas will then be reacted to form hydrogen and carbon dioxide (CO2). The CO2 will be separated from the hydrogen and then it will be permanently stored or sequestered in safe geological formations i.e. depleted oil formations among others. The captured hydrogen will be used to produce electricity or sold for use in other industrial applications.

This innovative project will integrate the newest electrical generation, gasification, emission control, capture and storage technologies. In one functional term, initial predictions suggest a 90% CO2 capture rate.

The project will require 10 years to complete and will be led by an industrial consortium representing the coal and power industries, with the information generated from the project being shared among all participants as well as with the industry as a whole. If proven successful additional plants could produce electricity for a rate within a 10% margin of non-capture plants.

Generated revenue will be shared among the project participants (including the U.S. Government) in proportion to their respective cost-sharing percentage.

The first step is underway: FutureGen will accept their applications to their Request for Proposals (RFP) as of May 4, 2006. The RFP is 54 page document that outlines the scope of the entire project including: intent, goals, design, safety, location and impact among other issues to consider with an endeavor of this scale. Information about FutureGen may be found at: FutureGen

Personally, I just learned about this project recently; has anyone else heard about this project?