Climos Raises $3.5 Million Series A Funding for Ocean Iron Fertilization

Climos, a US startup focused on iron fertilization of the oceans to
sequester CO2, announced the close of a USD 3.5m Series A round of
financing led by Braemar Energy Ventures.

Also participating in the round was entrepreneur and technology
investor Elon Musk. Climos said proceeds from the round would be
used to develop a technique known as ocean iron fertilisation.

Ocean iron fertilisation would in theory apply trace amounts of iron
to the deep ocean surface, with the aim of enhancing phytoplankton
growth and ultimately sequestering carbon dioxide in the deep ocean
through the action of the \"biological pump\".

Proceeds from this financing will allow the company to fund an
Environmental Impact Assessment, a series of science workshops
together with major research organisations, and an application for
international permits to support an initial demonstration.

Source: 
New Energy Finance