Australia will provide up to 100 million Australian dollars ($81 million) per year for a new international institute that will develop technologies to capture and store greenhouse gases, Prime Minister Kevin Rudd said Friday.
Rudd said he would explain the proposed institute in a presentation to the United Nations General Assembly in New York next week.
The Australian-based institute would serve as a hub for development of carbon capture and storage technologies, which allow power plants to catch emissions and inject them into underground storage spaces. There have been small-scale trials of such technologies, but no industrial-scale carbon capture and storage power stations have been built.
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