CHICAGO—The future of an eco-friendly coal company in Illinois may be in doubt.
FutureGen, an alliance of power and coal companies backing a new experimental power plant, is losing two partners, American Electric Power Company (AEP) and Southern Company.
The announcement on June 25 leaves the now nine-member alliance needing about $2.4 billion to begin operations on a Mattoon, Illinois plant, according to media sources. The plant aims to safely capture and store carbon dioxide derived from coal rather than emit it into the air.
On June 12, The Department of Energy agreed to fund over a $1 billion to restart the delayed project.
Both AEP, with subsidiaries stretching from the Appalachian area to Texas, and Southern, with its parent company in Atlanta, say cost led to their decisions, according to media reports.
