Shares of PowerSecure International popped 18 percent today after the Wake Forest company reported positive news about its division that sells energy efficient light cases for retailers' refrigerated cases.
The EfficientLights division's revenue is expected to reach $20 million this year, up 650 percent from 2008, as retailers install the lights "at a rapid pace," PowerSecure reported.
The light fixtures are made using LEDs from Durham-based Cree. The lights reduce energy costs, last longer and improve the quality of lighting in refrigerated sections of Walgreens and other retailers.
While still a small percentage of PowerSecure's total revenue, the EfficientLights division is one of its fastest-growing.
PowerSecure shares rose $1.37 to close at $8.80. The stock has more than doubled this year.