Exelon Corporation (EXC)said it intends to join the FutureGen Alliance, a non-profit organization whose goal is to develop a state-of-the-art clean coal demonstration facility to be located in Mattoon, Ill.
The decision comes as a part of Exelon's plan to address climate change through Exelon 2020, the company's environmental and business strategy intended to reduce, offset or displace more than 15 million metric tons
of greenhouse gas emissions per year by 2020. In April 2009, Exelon reported that it had reduced its greenhouse gas emissions by more than 35 percent from 2001 to 2008.
As currently proposed, the FutureGen plant will be a 275-MW integrated gasification combined-cycle (IGCC) power plant. The plant will be designed to capture carbon emitted by its operation and store it underground. In addition, the plant will be designed to achieve near-zero emissions of other air pollutants. The U.S. Department of Energy has committed to provide over $1 billion in funding to the project if the details of a public-private partnership can be worked out to the satisfaction of all parties.