CHARLOTTESVILLE, Va. (CBS19 NEWS) -- The University of Virginia plans to spend $60 million to find ways clean energy can be created, stored, and used.

The university already has faculty members focusing on the research and plans to hire four to six more people.

The program is designed to find a way to repurpose CO2 in the atmosphere by converting it to hydrocarbons.

Once the researchers do that, they intend to share their knowledge and technology worldwide.

"What we are trying to do is to really bring all this team together as a large-scale effort and make a significant impact on the lives of the people of Virginia and the world at large," said Melur Ramasubramanian, UVA's Vice President for Research.

The funds will support climate collaboratives and finance a space where professionals can work closely on this issue.