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Greenearth Energy grows industrial lighting division

Greenearth Energy grows industrial lighting division

Greenearth Energy's (ASX:GER) Vivid Industrial division continues to see growth in forward orders, in Australia and New Zealand, across the industrial and infrastructure sectors.

Greenearth also secured the extension of technology rights through Asia, Africa and North America during the quarter, and first installations of its cloud-based electricity consumption monitoring were completed.

The company's fuel technology division, which holds the option to aquire 33% of NewCO2Fuels, is assisting progression of a European pilot project for anticipated 2016 development.

Activities included enhancing pilot-scale reactor design for other global opportunities, and pursuing business development with potential partners across Europe, Korea, China and North America.

The company recently completed a share placement at $0.085 per share, raising $4.2 million to accelerate business growth.

Late last year, Technip (EPA:TEC) completed an independent evaluation NewCO2Fuels.

Technip was engaged by NCF’s Board to assist in validating its CO2-to-fuel conversion technology and assessing its potential commercial viability and opportunities.

The evaluation 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 report also confirmed the likelihood of NCF achieving commercial readiness in 2017.

Observations and findings of the Technip report were consistent with those of a previous independent review conducted by WorleyParsons (ASX:WOR) in September 2013.

NCF won the 2014 World Technology Network award for Energy, joining past winners including Apple, Facebook, Google, Honda, IBM, Skype, and Tesla Motors.

NCF’s technology was also recently named by the Australian Government as a future fuel in its Alternative Liquid Fuel Technology Assessment report, and NCF was allocated funding from the US Government Department of Energy technology.


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Vivid Technology Ltd Timeline

June 07 2017

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