The SCOAP3 membership in the US now counts about a hundred libraries who, either directly or through their consortia, have collectively pledged a total of 2.2 Million $/year to this initiative, covering 63% of the expected U.S. contribution.
Before it can move forward, SCOAP3 needs pledges from U.S. partners for additional 1.4 Million $/year....
The open access movement:
Putting peer-reviewed scientific and scholarly literature
on the internet. Making it available free of charge and
free of most copyright and licensing restrictions.
Removing the barriers to serious research.
I recommend the OA tracking project (OATP) as the best way to stay on top of new OA developments. You can read the OATP feed on a blog-like web page or subscribe to it by RSS, email, or Twitter. You can also help build the feed by tagging new developments you encounter.