The United States Department of Energy has opened up a new competitive grant process for $340 million in funding, intended to go to clean coal technologies with highly efficient carbon capture and sequestration (CCS) processes.

The competition requires that the technologies achieve at least 90 percent capture and storage of C02. The number of companies that can win funding is dependent on the number that apply.

As we noted yesterday, the Federal government is diverting large amounts of grant money to CCS technologies, making them an attractive field for both startups and existing companies.