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Peabody Energy (NYSE: BTU) Advances Clean Coal Research and Advanced Mining Technologies With $10 Million in Grants

Posted on: Tuesday, 2 December 2008, 13:04 CST

ST. LOUIS, Dec. 2 /PRNewswire-FirstCall/ -- Peabody Energy today announced it is advancing clean coal research and mining technologies through $10 million in grants to academic institutions, including Washington University in St. Louis, the University of Wyoming and the University of Arizona.

"Peabody is a global leader in clean coal solutions, advancing signature projects and partnerships around the world to commercialize near-zero emissions technologies," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "Coal has been the fastest growing fuel in the world for each of the past five years, and the vast majority of Americans support coal for electricity generation and believe that coal is a vital fuel of the future. We're pleased to engage in multiple university research partnerships that will help unlock the full value of coal."

The funds are being committed through multi-year grants and include:

-- $5 million to Washington University in St. Louis to establish the Consortium for Clean Coal Utilization, which will develop carbon capture and storage technologies, oxyfuel combustion and other approaches to reduce carbon dioxide emissions. The consortium is being funded by multiple industry partners. As part of the International Center for Advanced Renewable Energy and Sustainability, the consortium will become part of an international partnership of universities, industry leaders and foundations to advance carbon solutions.

-- $2 million to the University of Wyoming to support the Clean Coal Technology Center through the School of Energy Resources. The grant will focus on economic and energy analysis and will support the Technology Center's work in advanced coal utilization research and interdisciplinary undergraduate and graduate programs for energy-related careers. It will also serve as a catalyst for technology transfer to key stakeholders. A multidisciplinary economic and energy analysis of the Powder River Basin's contribution to America's economy will be part of the initial and ongoing research. Peabody joins a number of high-profile donors in supporting clean coal research at the university, including General Electric, which recently committed to develop the High Plains Gasification-Advanced Technology Center for the study of coal-to-gas solutions for Powder River Basin and other Wyoming coals.

-- $2 million to the University of Arizona to create the Institute of Mineral Resources, which will develop best practices in mining, safety and environmental stewardship. Key research efforts include advancing mine safety technology and research on energy-efficient mining.

This contribution comes in addition to more than $1 million over five years in support of related educational studies at leading universities across the United States.

Peabody Energy is the world's largest private-sector coal company. Its coal products fuel approximately 10 percent of all U.S. electricity generation and 2 percent of worldwide electricity.

SOURCE Peabody Energy

Source: PR Newswire

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