In January we reported that something fishy was going on with California-based corporation Planktos. The geo-engineering company was planning to release iron into the ocean in order to build up phytoplankton stocks – which would, they claimed, help store carbon dioxide and allow them to sell carbon credits as a result. Scientists and environmental groups voiced deep concern about the possible ecological impact of dumping iron particles in the sea and questioned the scientific basis for such action.
Sadly for Planktos, but thankfully for everyone else, the tide has now turned. Having lost an estimated $2.6 billion since its start-up nine years ago, Planktos has now shut up shop, selling off its assets, closing down its website (‘for maintenance’), getting rid of its CEO and stating that it has indefinitely suspended its business plans.
