Planktos, a company that wanted to dump a load of iron filings in the sea with the idea that it would help carbon-eating phytoplankton grow, thereby solving the world’s climate crisis, is in crisis itself.

This began back in February when the company dumped its iron-dumping pilot project, protesting it had been the victim of a “highly effective disinformation campaign waged by anti-offset crusaders”.

Now the company, listed by Pink Sheets, has announced it will seek out an alternative near term business opportunity , change its name, consolidate its stock and make an acquisition. No details yet on what any of those things involve, though.

No doubt environmentalists will be relieved by the news – back at the height of Plankton’s media fame, scientists were not backwards in coming forwards to offer dramatic, dangerous consequences to be expected if Planktos went ahead with its scheme – such as a glut of nitrous-oxide-producing bacteria growing to feed on the bloom, thus emitting more greenhouse gases. The company was also criticized for its disregard of what the iron fertilization would mean for the local ecosystem.