U.S. announces carbon capture investments

WASHINGTON, June 11 (UPI) -- U.S. Energy Secretary Steven Chu announced more than $300 million in investments designed to create new carbon capture technologies.

Chu said the funding reflects the Obama administration's commitment to a broad based strategy that will create millions of jobs while transforming the way we use and produce energy.

"There's enormous potential for new jobs and reduced carbon pollution just by implementing existing technologies like energy efficiency and wind energy, but we also need to develop transformative new solutions," said Chu. "As a scientist, I remain optimistic that these breakthroughs are within our reach, and investments like these are an important part of achieving them."

The funding includes up to $240 million for development of high efficiency commercial and passenger vehicles and $22 million for new solar projects to advance photovoltaic technology research, development and design. Chu said an additional investment of up to $27 million will be used to develop the nation's solar installation training infrastructure.

The Energy Department also announced $11.3 million in funding for nine projects that will develop pre-combustion carbon capture technologies that can reduce CO2 emissions in future coal-based integrated gasification combined cycle power plants.