PPL, Delek US selected by DoE for separate carbon capture project funding (NYSE:DK)

PPL Corp. (NYSE:PPL) and Delek US Holdings (NYSE:DK) said Friday they were selected by the U.S. Department of Energy Office of Clean Energy Demonstrations to help fund separate carbon capture and storage projects.

PPL (PPL) said the company and its research partners were chosen for a $72M award negotiation to help fund a carbon dioxide capture research and development project expected to cost at least $100M.

The project and new carbon capture system will be hosted at PPL (PPL) subsidiaries Louisville Gas and Electric and Kentucky Utilities’ Cane Run 7 natural gas combined-cycle generating station.

Delek US (DK) said the DoE selected it to negotiate a cost-sharing agreement in support of a carbon capture pilot project at its Big Spring refinery in Texas, and provide up to $95M of federal funding to support its development.

The project will use Svante Technologies carbon capture technology at the Big Spring refinery’s fluidized catalytic cracking unit, while maintaining existing production capabilities and turnaround schedule; the project is expected to capture 145K metric tons/year of carbon dioxide.