Washington, DC -- U.S. Energy Secretary Steven Chu announced today that $55 million will be made available to develop advanced technologies that can capture carbon dioxide from flue gases at existing power plants so that the greenhouse gas may be sequestered or put to beneficial use. The funding announced today is a direct investment in carbon capture and storage related technologies that will support the Obama Administration's effort to help mitigate the effects of CO2 - a major greenhouse gas and contributor to global climate change.
"Today's announcement will not only help fight climate change, but also create new jobs and help position the United States as a leader in carbon capture and storage technologies for many years," said Secretary Chu. "These technologies will not only give us a healthier planet, they will strengthen our economy and lay a foundation for a new generation of clean energy jobs."
Coal is one of the nation's most abundant energy resources - supplying nearly 50 percent of domestic electricity. Secretary Chu sent a letter this week to world energy ministers and other scientific leaders calling for an aggressive global effort to advance carbon capture and sequestration technology to the point where widespread, affordable deployment can begin in 8 to 10 years. The funding announced today will support the development of technologies that can remove 90 percent of the CO2 in a flue gas stream at no more than a 35 percent increase in the cost of electricity.
The funding opportunity is seeking applications for bench- and pilot-scale projects in four areas of interest: membranes, solvents, solid sorbents, and condensed-phase capture. The solicitation is specifically focused on advanced technologies for post-combustion CO2 capture and purification that can be retrofitted to existing pulverized coal power plants.