Shares of Pacific Blue Energy Corp. (NDA) (OTC: PBEC) jumped more than 10% in today�s trading. The OTC stock reached a high of $1.19 in trading. It closed 10.28% higher at $1.18, with volume at 1.15 million. Phoenix, Arizona-based Pacific Blue is a photovoltaic (PV) solar energy company. The company seeks to take advantage of technological advances that will drive the expected jump in the U.S. solar generated electricity market.
Earlier this month, the company announced the implementation of an economic and financial analysis tool that is designed specifically for wholesale solar PV projects. The software will be used for verification of participants in each proposed project, with a focus on ensuring their financial stability. This is expected to help management in analyzing more potential projects in less time thus allowing fast track development process and evaluation of potential projects for strong financial returns. Joel Franklin, Pacific Blue CEO, said that the software will make operating systems more efficient.
Also this month, Pacific Blue reported entering a joint venture with a company that has extensive experience in designing and building solar farms. The name of this company has not yet been disclosed. Pacific Blue says that the company is involved in designing, engineering, building and installing of solar panels on sun-drenched Southwest properties. Franklin said that the company is a perfect fit for Pacific Blue, as it brings extensive experience to the table. Franklin added that with this, Pacific Blue is methodically putting pieces into place in becoming a leading energy developer in Arizona.
Apart from these developments, there is no news to explain the huge activity in the OTC stock in today�s trading. The OTC stock has a 52-week range of $0.30-$1.36. Currently, it is trading above its 50-day moving average.
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