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Peabody Energy said it plans to buy a $15 million equity interest in Calera Corp., which has proprietary technology that converts carbon dioxide into green building materials.

Los Gatos, Calif.-based Calera, led by Chief Executive Brent Constantz, recently completed a demonstration project near Moss Landing, Calif., which used the emissions stream from a natural gas-fueled power plant. The Calera technology mixes CO2 with water from a variety of sources, causing the minerals to bond and release as synthetic limestone.

Every ton of Calera building material is expected to store as much as a half-ton of carbon dioxide, Peabody said Monday.

The technology captures CO2 emissions from coal- or gas-fueled power facilities, cement plants and refineries, and converts it into solid carbonates that can be used as building materials in the form of aggregates or other cement-type materials payday loan lenders. Because Calera’s process removes minerals and other constituents from water, it also acts as a freshening system to produce fresh water, which can benefit areas of the world that need clean water, according to Peabody.

St. Louis-based Peabody (NYSE: BTU), led by Chairman and CEO Gregory Boyce, is the world’s largest private-sector coal company with $6 billion in revenue. Its coal products fuel 10 percent of all U.S. electricity generation and 2 percent of worldwide electricity.

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