NEW YORK (TheStreet) -- Euro Tech Holdings (CLWT) soared Monday after the company announced it had received a type approval certificate from China's Classification Society for its 300 Cubic Meters per hour Ballast Water Treatment System.
Euro Tech said in a statement it plans to create a larger BWTS of 750 Cubic Meters per hour in order to meet potential customers' requirements. It is also searching for distribution channels to market and sell its current systems. Finally, Euro Tech "may seek strategic partners or external investors for further expansion of its BWTS business," according to the statement.
The stock was up 29.54% to $5.35 at 1:12 p.m. More than 1.1 million shares had changed hands, which dwarfed the average volume of 10,202.