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U.K. Scraps $1.5 Billion Carbon Capture Competition Funding

The U.K. scrapped funding of 1 billion pounds ($1.5 billion) for a competition to spur carbon capture and storage, a blow to efforts to clean up fossil-fuel pollution from factories and power plants.

The cash will no longer be available for so called CCS technology, which takes emissions blamed for global warming and sequesters them underground, the Department of Energy and Climate Change said Wednesday in a regulatory statement. The two groups competing for the funds were a partnership between SSE Plc and Royal Dutch Shell Plc, and another between Alstom SA and BOC Group Ltd.