FutureCoal Welcomes U.S. Investment in Modernising Coal Plants

FutureCoal welcomes the U.S. administration's USD 625 million investment to upgrade and modernise coal plants, calling it a pragmatic step forward to achieve energy security and best environmental performance.

Michelle Manook, CEO of FutureCoal, said, "The administration's announcement is a necessary and sensible step towards America's goal of energy independence. With over 400 years of coal reserves, the U.S. now faces uncertain pressure on domestic gas prices, partly due to its ambition to double LNG exports. At the same time, growing demand from energy-hungry sectors such as data centres underscores the need for more reliable and affordable energy sources, not fewer."

Manook stated that the U.S. administration's commitment signifies a modernisation programme aimed at enhancing resilience and offering an opportunity to reset the approach to coal financing.

"This investment signifies a responsible transformation of the world's crucial coal energy and industrial assets, a concept already embedded in the energy policies and societal mindset of the two largest coal economies, India and China, where energy resilience and self-sufficiency remain top priorities."

India, which has already committed over USD 1 billion to coal gasification projects by 2025, and China, between 2022 and 2024, invested a total of USD 248 billion in the coal sector.

Manook noted that the U.S. coal industry is positioning itself to deliver a more resilient energy system. With its strong record of innovation and engineering in modern fossil fuel technologies, the U.S. is embracing FutureCoal's Sustainable Coal Stewardship (SCS) framework.

"FutureCoal's SCS framework guides countries such as India and China in transforming the coal value chain through advanced technologies in mining, power generation, carbon capture, chemicals, hydrogen, and fertilisers. SCS also explores development in beyond combustion sectors, converting coal and coal waste into construction materials and high-value products, including rare earths, critical minerals, and advanced materials like graphene and carbon fibre."

FutureCoal has consistently called for a united effort across the American coal value chain to support pragmatic policies that recognise coal's role in delivering a sustainable business model for a future-proof coal value chain.

"FutureCoal and its global members will continue to work alongside the U.S. Department of Energy. We need to collectively lead with vision which supports economic growth while ensuring energy security and best environmental outcomes,"Manook concluded.