In a move that mirrored the precipitous rise of the Los Angeles Kings, the value of Trina Solar Limited's (NYSE:TSL) stock rose during trading on Tuesday, as news of a collaboration with E3/DC positively affected investor sentiment.
According to a company release, the value of Trina Solar's small cap stock was affected by its announcement of a new deal with Germany-based E3/DC.
The two companies will be working together to develop next generation energy storage solutions for small businesses and residences.
"We are very excited about this new collaboration," said Ben Hill, Head of Trina Solar Europe. "Storage is a key technology going forward. It helps to balance solar energy generation with consumption. Customers thus become independent from rising energy costs. We see increasing interest in storage solutions and wish to be at the forefront of this development."
The company was upgraded to a "positive" rating by Avian, as the new deal added to the value of the firm, according to the Daily Political.
Shares of Trina Solar rose $0.32 to $6.45 at 11:42 a.m. on June 12, an increase of 5.2 percent.