Biomechanical mechanism to sequester CO2

OK, so lets start with the big one.  I think I can reverse global warming.  Ideas have to come from somewhere don't they?  This is a plan I started working on over 6 years ago and no one has been able to find a reason why this wouldn't work and this includes university departments and one of the largest chemical companies in the world.  It is however, theoretical and so I am putting it out there to see if people agree or if people want to help try and prove or disprove the idea.

Essentially I have established a mechanism by which you can power the metabolism of bacteria using a renewable energy source.  Essentially you can plug the little blighters into an electrical power source and you can them get them to make a fuel.  So why would you want to do that?  Surely if you already have electricity you wouldn't need a fuel?  This is true, however, the really good part of the plan is that in making that fuel, the bacteria take in carbon dioxide.

This means your renewable energy is used to absorb CO2 from the atmosphere!

The fuel that is created is formic acid which can be split into hydrogen and CO2.  But while the hydrogen can be used to drive an electric battery the CO2 remains in solution and so this can be either recycled or disposed of underground as a form of carbon capture.

So what do you think?  Or better still does anyone want to help get this done?