New company wants to seed ocean with iron to sequester carbon
Weeks after ocean-seeding company Planktos bit the iron dust, a startup called Climos is plowing ahead with a similar business plan: seed the ocean with iron dust to stimulate the growth of CO2-gobbling plankton, then sell offsets for the sequestered carbon. Climos has announced $3.5 million in venture capital and is backed by reputable investors: Tesla Chair (née Pay-Pal cofounder) Elon Musk and venture-capital firm Braemar Energy Ventures. Climos CEO Dan Whaley says his company differs from Planktos in that it will have a science-oriented approach, expert managerial team, and “all-star cast” of experienced scientists. Whether it can avoid the wrath of Planktos’ dreaded “anti-offset crusaders” remains to be seen.