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Planktos Praises IPCC and IMO Calls To Act

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HowardHughs Member Level  Monday, 11/19/07 03:20:10 PM
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Planktos Praises IPCC and IMO Calls To Act Now To Bring Sound Scientific Principals and Wisdom to Topic of Climate Change Mitigation and Ocean Ecorestoration
Monday November 19, 2:13 pm ET

SAN FRANCISCO--(BUSINESS WIRE)--Planktos welcomes the report of the Intergovernmental Panel on Climate Change (IPCC) identifying the dire state of ocean ecosystem collapse due to CO2 acidification (Nov. 17th) and the report from recent meeting of the London Convention (Nov. 5-9th), part of the International Maritime Organization (IMO). Both organizations have sought to bring a measure of urgency and restore balance in the contentious debate surrounding CO2 mitigation and especially ocean iron micronutrient replenishment, sometimes called iron fertilization. As a responsible member of the international ocean science community, Planktos has long stated that we do not yet have sufficient information to act precipitously with regard to large scale iron fertilization. This is why Planktos’ plans have been so clearly and consistently stated as being composed of series of carefully planned and executed pilot scale projects.

Russ George, CEO of Planktos states, “The IPCC in its call to immediate action and IMO in their recent meeting appear to be supporting and pointing to the urgent need for a well established pilot scale technology development path through which this academic science can transition to become applied science in a sound scientific and business like manner. By advising the world community to first employ careful study of this ocean plankton bloom technology via modest scale pilot projects, such as those Planktos is engaged in, the IMO clearly shares the notion that we will all need to 'learn by doing.' Through this means we may collectively develop critical knowledge of iron fertilization before large scale projects are undertaken.”

The pilot projects of Planktos build upon 15 years of iron micronutrient replenishment experiments that the international science community has spent over $100 million performing. Those academic studies stimulated blooms of such small size and short duration that researchers were able to observe only a tiny fraction of the bloom life cycle. Many ocean science institutions world-wide have followed those experiments with proposals similar to those of Planktos. These efforts are akin to a Stage 3 Clinical Trial in the biotechnology industry Planktos is a part of.

By pointing to the need for regulatory engagement, the IMO is rightfully aligning itself with the already strict legal code driven process, implemented by the nations within the sphere of the Kyoto Accord, that regulate this and other climate change mitigation technologies. This process involves multiple layers of strict government regulation and oversight including those at local, national, EU, and international levels including those of the UNFCCC, the IPCC and the Kyoto Protocol. Third party independent and transparent review of all aspects of these carbon offset project are included throughout this regulatory process. Building upon 15 years and more than $100 million dollars worth of public research spending, Planktos has been engaged in this process for several years in both North America and the EU policy arenas and is only now able to begin the actual pilot project final field trials.

Planktos Corp. is a public company (OTCBB:PLKT - News) engaged in the development of global eco-restoration projects to revive dwindling forests and ocean plankton ecosystems. The company harnesses the power of green plants and photosynthesis to remove CO2 from the atmosphere. Its planned climate forests in the European National Park System and restored ocean plankton blooms are intended to produce carbon offsets for sale into both regulated and voluntary climate change markets in the EU and around the world. Learn more about the work of KlimaFa and Planktos by visiting their web sites at www.klimafa.eu and www.planktos.com and help us restore our trees and seas.

A number of statements herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933. Safe-harbor provisions may be inapplicable to these statements due to exclusions under Section 27A(b). These forward-looking statements involve risks and uncertainties, including the sufficiency of existing capital resources, uncertainties related to the development of Planktos/KlimaFa business plan, and the ability to secure additional sources of financing. The actual results achieved could differ materially from any forward-looking statements due to such risks and uncertainties. Planktos encourages the public to read the information provided here in conjunction with their filings on Form 10-KSB and Form 10-QSB. Public filings may be viewed at www.sec.gov.

Russ George or Sarah Kelly, 650-638-1975

Source: Planktos Corp. http://biz.yahoo.com/bw/071119/20071119006082.html?.v=1

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