Amulaire Thermal Technology (TPE:2241) will establish a joint venture of Pinam Optronics with Pinjack Optronics Industrial to fast-track the development of optical communication products, according to a Wednesday filing with the Taiwan Exchange.

Shares of the thermal and heat dissipation components maker were up nearly 4% in Thursday trading.

The joint venture will engage in the manufacturing and sale of optical communication products, with Pinam planning to issue 5 million shares worth NT$50 million in the first phase.