NET Power has started construction on a new plant that will feature a new natural gas power system, producing low-cost electricity with zero greenhouse emissions.
The 50MW demonstration plant is being constructed in La Porte, Texas.
NET Power is a collaboration between Exelon Generation, CB&I, and 8 Rivers Capital.
The plant will use NET Power's Allam Cycle technology, which uses CO2 as a working fluid to drive a combustion turbine, and removes all atmospheric emissions without any need for efficiency-reducing carbon capture equipment.
The technology produces CO2 of pipeline-quality that be removed or used in several industrial processes, including for oil recovery.
NET Power CEO Bill Brown said: "NET Power is the first technology that allows policy and economics to work together, instead of against each other, to ensure the world meets our climate targets."
The $140m programme not only includes demonstration plant design and construction, but also ongoing technology advancement, a complete testing and operations programme and commercial product development.
This amount is being funded by a combination of cash and in-kind contributions from Exelon and CB&I.
Toshiba has developed and is currently manufacturing a new supercritical CO2 turbine and combustor for the project.
CB&I has performed engineering, procurement, and construction of the plant. Exelon will offer operations, maintenance, and development services.
8 Rivers will continue to advance the technology behind the project.
NET Power's 50MW facility will be a completely operational unit that will generate power to the grid, while demonstrating all key aspects of the Allam Cycle.
Commissioning of the facility is expected to begin in late 2016 and be completed in 2017.