Fertilising the Ocean to Save the Climate?

I’m following with great interest a voyage by the German polar research vessel Polarstern to the Antarctic to conduct an experiment in “ocean fertilization” and the controversy over the project.
Some organisations are highly concerned about the experiment and feel it’s in breach of international agreements to protect biodiversity:
Background from the opponents, the ETC or “Action Group on Erosion, Technology and Concentration
The project is a German-Indian venture. There’s more information in English on the website of the National Institute of Oceanography.
Project to fertilize the ocean with iron
I haven’t found much on this on the AWI website, that’s Germany’s Alfred-Wegener-Institute for Polar and Marine Research. I’ll try to contact them and follow this story up.
The trouble is a lot of people are very concerned about interfering with the oceans in this way without knowing the likely consequences. The idea is that the iron will lead to a bloom of algae, which will ultimately sequester Co2. But it is not without risk.
The ETC cites an online article on the 2008 Convention on Biodiversity meeting here in Bonn, Germany,and the strong concerns documented their about iron fertilization.
media coverage of CBD view, May 2008
If you have strong views on this or links to further information on the issue, I’d be pleased to hear them.