FutureGen is a project to build a coal gasification plant to generate electricity and hydrogen. The plant will capture and sequester CO2 in geologic formations. The project is funded primarily by the US Department of Energy, with some funds coming from commercial partners. The budget was initially set at around $1 billion, but is currently estimated to be $1.8 billion.
The FutureGen Alliance (the commercial partners) announced that it has chosen the Mattoon, Illinois site for the project. The Department of Energy, however, issued a press release announcing that a reassessment and restructuring of the FutureGen is in order. The press release states:
DOE has not yet issued the Record of Decision (RoD), which is required to enable a final siting determination. DOE believes that the public interest mandates that FutureGen deliver the greatest possible technological benefits in the most cost-efficient manner. This will require restructuring FutureGen to maximize the role of private sector innovation, facilitate the most productive public-private partnership, and prevent further cost escalation.
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