Image: A plankton bloom

Ocean iron fertilization company Climos is securing an initial $4 million in venture funding to pursue its plan to capture carbon dioxide by creating "plankton blooms."

The idea is to place iron in the ocean to stimulate growth of plankton. As it grows, the plankton consumes carbon dioxide and over time some of the plankton will sink lower in the ocean, effectively removing the carbon dioxide from the atmosphere.

The green area in this NASA image shows a plankton bloom in Lake Titicaca in South America.