There are a number of issues that an initiative like this one resolve.   Taking in the large picture of Global Warming the number one problem is atmospheric CO2.  Scientists have proposed technologies that can remove CO2 from the atmosphere, then comes the question of what to do with it once it has been removed.  Many are proposing to sequester the gas within the rock strata of the Earth.  Some oil companies are even re-injecting it back in to replace oil and natural gas as those are removed from reservoirs.

H2Orbit proposes that we use the CO2 to produce calcium carbonate.  That is to chemically bind the CO2 into solids on an industrial scale.   Those solids would then be used in building projects on land and reef restoration projects under the sea.

In 1989, Dr. Simmons introduced CaCO3 into the Whetstone Brook in Massachusetts. His hope was that the calcium carbonate would counter the acid in the stream from acid rain and save the trout that had ceased to spawn. Although his experiment was a success, it did increase the amounts of aluminum ions in the area of the brook that was not treated with the limestone. This shows that CaCO3 can be added to neutralize the effects of acid rain in river ecosystems. Nowadays, calcium carbonate is used to neutralize acidic conditions in both soil and water.

Here we are interested in the reef restoration aspects as we need to be proactive in this area from the point of view of our biosphere.   The calcium carbonate can be molded into Reef Balls.  Currently that organization is using specialized cement or concrete to construct those devices that are in turn used to build up reef areas.

The Reef Ball Foundation is a great organization and is working to promote the use of these devices around the world.  They also have already done some work with Louisiana State University on CO2 sequestration using Reef Balls.

While this most likely won't immediately stop the problem we have with ocean acidification it is a step in the right direction and offers humanity a process whereby we may be able to ultimately, before 2100 of being able to manage the ocean acidity levels through a combination of mechanisms and processes.

This proposal would industrialized that process and use the CO2 to help accomplish the mission.  In a real sense this would be the reverse of a mining operation in that we are taking the molecular components and building rock which is then put back on the Earth for specific purposes.  In this case to support and nurture biodiversity.

There would be more than enough CO2 to accommodate every conceivable project, including development efforts on land, that would be consistent with the overall objectives. 

These activities would create thousands and thousands of jobs.

H2Orbit would love to see the complete manufacturing process for manufacturing reef balls installed aboard ship.  Here's the idea.  Gas colliers carrying CO2 collected from various points sail to the site of a new reef.  Freighters carrying the other raw materials sail to the same spot. 

Ca(OH)2 + CO2 → CaCO3 + H2O

The ships then 'dock' to each other and create an 'at sea' facility that is completely self contained and can combine all the raw materials and use them to manufacture reef balls of any needed size.   Smaller vessels take the newly manufactured reefballs and place them in their final resting place on the sea floor.  

When the raw materials are gone - a newly formed basis for a reef is left in their place.  The ships part company to gather more raw materials and to relocate to the site of the next reef.