Arch Coal Pledges $5 Million to Washington University's Energy Consortium to Advance Clean Coal Technology
ST. LOUIS (December 2, 2008) - Arch Coal, Inc. (NYSE:ACI) today announced that it has pledged $5 million over five years for the establishment of the Consortium for Clean Coal Utilization at Washington University in St. Louis.
The consortium's goal is to bring university researchers, industries, foundations and government organizations together to research clean coal technology, making St. Louis the nation's center for clean coal research.
"Arch Coal is pleased to partner with Washington University on this important new initiative," said Arch's Chairman and Chief Executive Officer Steven F. Leer. "Global coal consumption has increased 35 percent in the past six years, with emerging Asia building new coal-based power stations at a rapid pace. Arch is committed to supporting the research, development, demonstration and deployment of new clean coal technologies that will allow this indispensable fuel to continue meeting the challenges of our energy-constrained world."
Arch and other consortium partners will help establish the key priorities and laboratory facilities for clean coal research on Washington University's campus. These may include pilot-scale facilities where scientists can perform fundamental research and develop new technology related to more efficient, cleaner combustion of coal and approaches to capturing and storing carbon dioxide. The consortium will operate under the umbrella of Washington University's International Center for Advanced Renewable Energy and Sustainability (I-CARES).
"Arch is committed to working with researchers, policy makers, technology providers and customers to play a positive and constructive role in advancing climate-friendly solutions," said Leer. "We are convinced technology is the answer, and we are confident the research led by the Consortium for Clean Coal Utilization will play a vital role in helping the world chart a successful course to a cleaner and more secure energy future."
Leer will participate in a news conference for the establishment of the Consortium for Clean Coal Utilization in Hong Kong on Dec. 8 in conjunction with the Second International Symposium on Energy & Environment, organized by Washington University's McDonnell International Scholars Academy. "International cooperation is essential," said Leer. "We're fortunate that the consortium will encourage collaborative research with 24 existing university partners, including global partners in China and India who are - or soon will be - the largest consumers of coal."
St. Louis-based Arch Coal is one of the nation's largest coal producers and supplies cleaner-burning, low-sulfur coal to 148 U.S. power plants in 33 states and customers in more than a dozen countries worldwide. Through its national network of mines, Arch Coal provides 6 percent of the electricity generated in the United States.
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