Cash and caution for ocean iron fertilization
Investors are backing a geoengineering startup based on the idea of fertilizing the ocean with iron to grow CO2-sequestering phytoplankton, despite recent research that underlines doubts about whether the scheme can work. The startup, Climos, announced Wednesday that it had received US$3.5 million in venture capital, which it will spend on an environmental impact assessment, scientific workshops to discuss ocean iron fertilization, and international permits for a demo project – all to pave the way for selling carbon offsets from the fertilization technique. It’s been less than a month since a rival company called Planktos had to drop a similar … Read more
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