Why Optec's Stock Is Trading Higher Today

Optec International Inc OPTI shares were trading higher on Thursday.

The company announced an exclusive distribution agreement for the Optec, UV (Ultra-Violet), UV-C and PPE Product lines with Athens based Greek International Distribution Company. The companies have both executed the exclusive letter of intent for the territories including the $3 million inventory purchase required to maintain the exclusivity through to December 31.

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Optec International develops fuel maximizer devices vehicles. This device is a technology designed for modern computer-controlled gasoline and diesel engines for improved fuel efficiency while simultaneously reducing harmful emissions.

Optec's stock traded up 29.49% at 9 cents per share at the time of publication on Thursday.