Billion dollar funding for carbon capture

Wow! There really seems to be plenty of stimulus money floating around when it comes green/clean technology development. That’s definitely good news!

This time, the US Department of Energy (DoE) is awarding $1.4 billion for 12 carbon capture and storage (CCS) projects. The first funding phase will involve a total investment of $44.1m (from both the stimulus funds and private funds), and the remaining stimulus grant will be awarded to those who can prove their technology works.

Projects involved include capturing carbon dioxide emissions from plants such as cement manufacturing, chemical plants, refineries, paper mills and other manufacturing facilities. The captured gas will be stored in deep saline formations and other geologic systems.

The DOE expects phase activities completion by 2010. Some of the companies involved in these 12 projects include, among others, Air Products, Archer Daniels Midland (ADM), Dow Chemical, Boise White Paper, Fluor Corp., Shell, CEMEX, ConocoPhillips, Leucadia Energy, Praxair, BP, and Wolverine Power Supply Cooperative.

By the way, somebody told me that CCS technologies are very much in its infancy and that the EPA is wasting a lot of money trying to rush these projects into market commercialization, which, that somebody said, are doomed to failure anyway. Cheerful thought eh?

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