More recently shares in EcoSecurities, an Irish broker, plunged 47% in November after it disclosed problems in getting approval from the United Nations, which must verify that projects reduce emissions of CO 2 and other greenhouse gases, for carbon-mitigation projects much like those Evolution is chasing in developing countries.

FORBES: Selling the Blue Sky

To drum up business, Evolution scouted for carbon-mitigation projects in developing markets that polluters could subsidize.

FORBES: Selling the Blue Sky