Caterpillar Joins FutureGen Alliance
Peoria-based Caterpillar has joined the growing list of supporters of the FutureGen coal-burning power plant planned for Mattoon.
And the heavy equipment maker is the first member of the FutureGen Alliance not tied directly with energy production. The alliance now has 11 members committed to providing financial resources to get FutureGen off the ground, they include Chicago-based utility giant Exelon, and St. Louis-based coal company Peabody Energy. Monday's announcement drew praise from officials like Governor Pat Quinn and Urbana Congressman Tim Johnson. Coles Together Vice President Anthony Pleasant admits Caterpillar's backing may appear a bit unusual at the outset. "The rest are power generation companies, and clearly that's not what Cat does." says Pleasant. "But Cat's always been environmentally friendly. Just days ago, their headquarters in Peoria was LEED certified. They reduced energy by 40%, and water usage by 50%. So it's something they clearly invest in." In a release from the company, a Caterpillar official says the company has long been committed to technologies and policies that slow, stop, and reverse the growth of Greenhouse gas emissions.
Pleasant notes that Caterpillar also makes mining equipment. He says this move is a good sign that other companies not related to energy production will support FutureGen, and calm federal officials' concerns over cost. The price tag of the facility now stands at about 1-point-8 billion dollars, with the Department of Energy expected to handle just over a billion of that. Two years ago, the Bush Administration pulled the plug on the project due to cost overruns. A DOE announcement on whether FutureGen will be built could come later this month.