Secretary Chu announces $2.4bn in funding for carbon capture and storage projects

US Secretary of Energy Steven Chu has announced that $2.4bn from the American Recovery and Reinvestment Act will be used to expand and accelerate the commercial deployment of carbon capture and storage (CCS) technology. The funding is part of the Obama Administration's ongoing effort to develop technologies to reduce the emission of carbon dioxide, a major greenhouse gas and contributor to global climate change, into the atmosphere while creating new jobs, according to a statement.