The projects – located in Texas, Illinois and Louisiana – were initially selected in October 2009 for Phase 1 research and development grants. The projects will now enter into Phase 2 with additional funding to begin design, construction and operation. They will be managed by DOE’s National Energy Technology Laboratory.
Leucadia Energy, Air Products & Chemicals and Archer Daniels Midland Corporation are the beneficiaries of the federal funds and they will receive $260m, $253m and $99m respectively.
The three projects are expected to capture and store 6.5 million tons of CO2 per year. Phase 2 of these projects includes the $612m in Recovery Act funding and $368m in private sector cost-sharing for a total investment of $980m.
According to DOE, the Obama administration has made a goal of developing cost-effective deployment of CCS within 10 years, with an objective of bringing five to 10 commercial demonstration projects online by 2016.
