Yes but it has to be managed properly, a few years ago when a seaweed biofuel was developed the seaweed beds of coastal America were devastated and the EPA had to step in to prevent an environmental disaster.
When the company responsible (Archer Daniels Midland ) were told they would have to build and manage there own sea weed farms and not plunder the natural resources, it was decided it was no longer financially viable and was quietly dropped.
The same is likely to happen here if the the inventors or manufacturers are not ethical.