Future Power PA is to seek funds from the US Government for its proposed 270MW Good Spring clean coal plant in Pennsylvania.
The plant will cost about $1bn and take three years from the start of construction to finish, said CEO of Future Power, Nicholas Cohen.
The company was seeking about $610m in loan guarantees and/or grants from the DOE, reports Reuters.
Good Spring has been designed to be an Integrated Gasification Combined Cycle (IGCC) power plant that will gasify local anthracite coal.
The plant will also have carbon dioxide sequestration capabilities.