Active Power, Inc. (NASDAQ: ACPW) is getting a rather large boost this morning. News was issued that the company has renewed its global distribution pact with its OEM partner and customer Caterpillar Inc. (NYSE: CAT). If a multinational exists with deep pockets, it is Caterpillar.
The news may not seem grand on the notion that the new five-year pact was renewed with what was called substantially similar terms and conditions to the previous contract agreement which was signed back in April 2008. The wording included enhancements to reflect new products, operational processes, and pricing.
2011 was a rough year for Active Power and the gain of 7% to $0.95 in the stock today compares to a 52-week trading of $0.59 to $3.03 for the stock. It is worth noting that there have already been more than 1 million shares traded in less than the first hour of trading (plus pre-market trading hours) against an average daily trading volume of under 800,000 shares.
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