Greenearth Energy (ASX:GER) has been granted a trading halt by the Australian Stock Exchange, pending details of a capital raising.
Earlier in the week the company revealed that Technip (EPA:TEC) had completed an independent evaluation of the technology of Greenearth's 33% controlled associate, NewCO2Fuels (NCF).
The evaluation has revealed positive progress, a strong technology platform and performance capability likely to yield compelling IRRs for customers.
Technip is a world leader in project management, engineering and construction for the energy industry. It has 40,000 employees across 48 countries, and is listed in France with annual revenues of €9 billion.
The halt will last until the opening of trade on Monday 8th December 2014, or earlier if an announcement is made to the market.
