The ongoing saga of Planktos, which claimed to have had its ocean seeding plans dashed by environmental groups, took another turn this week. Yesterday, publicly-traded Planktos Corp., which is separate from the recently-launched Planktos Science led by founder Russ George, updated shareholders stating that the company would “suspend operations in order to seek out an alternative near-term business opportunity.” That includes a name change, restructuring, a consolidation of its stock and supposedly an undisclosed acquisition. Solar Energy Limited, the lead investor and issuer of the release, has not responded to multiple requests for comment.
The original founder of Planktos and current head of the reformed Planktos Science, Russ George, told us in a phone interview he was “very glad to hear the guys who bought the residual shell of Planktos Corp. have gotten around to changing the name. It’s the end of that painful saga. A tragedy for the planet.” George added that Planktos Science, which he says has most of the technology, intellectual property and personnel from the original Planktos Corp., has raised some venture capital. Though he declined to say how much or from whom he added, “We’ll be back. We are back. Planktos will rise again.”
We’re not sure who would give George funding, but it’s probably a little different than what Planktos competitor Climos has managed to secure, raising some $4 million from the likes of Tesla Chairman Elon Musk and Braemar Energy Ventures. And George is clearly still smarting from what he calls an “orchestrated conspiracy” of environmental groups and media outlets who scuttled his endeavors with Planktos. But he tells us that the new Planktos Science and its new funds will continue on its original course with the intention of making the ocean’s plankton populations thrive.