Global Thermostat Innovation

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Global Thermostat Innovation
Global Thermostat provides equipment with the capacity to pull carbon dioxide and other greenhouse gases out of the air for sequestration or utilization by various industries. The aim of the process is climate mitigation through reducing carbon concentrations in the air. The Global Thermostat, in its innovation, lacks a tangible business model. This gap is likely to affect the industry in that no one will be willing to pay for carbon absorption from the air. However, the current industry may be at an advantage. With a limited market for carbon for uses such as recovery of hard-to-get-oil from tapped-out wells and injection of bubbles into fizzy drinks, the bargaining power of buyers can be high (Casadesus-Masanell 8). This aspect will negatively affect the profitability of the industry.
The innovation also affects the current society. One notable aspect about this innovation is that it intends to harvest CO2 from the atmosphere. It is a mitigation strategy that will reduce greenhouse gases and improve the environment and weather. The company has created employment opportunities for jobs like transportation, machine operations and controls and marketing among others. Stakeholders, in any business, have their prospects. In this case, they can achieve a variety of gains particularly if the process proves to be a meaningful climate remedy. However, the stakeholders may, as well, suffer incurred costs. …