General Electric has secured a deal with a company for the provision of LED lighting technology.
The company will form a link with Rambus to be the provider of the new development, which has excellent energy saving properties.
This agreement represents the first commercial deal struck by Rambus since it launched its LED business last year, Reuters has reported.
GE chief executive Michael Petras said the firm was looking to give customers more options on their energy saving lighting products and the new deal would help to bring prices down on the expensive technology.
We want to provide customers with more unique LED innovations, and this agreement helps us get there fast, he commented.
Shares in Rambus climbed by nearly five per cent after GEs announcement.
GE is currently marketing its Energy Star fluorescent light bulbs, which the company says last 12 times longer than a conventional model and use 75 per cent less energy.
Rapid Electronics is a leading UK supplier of energy saving products, electronic components and electrical equipment.
