Technology company Archer Materials (ASX:AXE) partnered with China-based MultiDimension Technology to create a tunnel magnetoresistance sensor for industrial applications as part of its CQ project, according to a Thursday filing with the Australian Securities Exchange.

The company will finalize its design in the coming weeks, with the final design to be sent to MultiDimension Technology for prototype manufacturing by the end of the year, the filing said.

Archer Materials shares rose nearly 8% in recent Thursday trade.

Price (AUD): $0.28, Change: $+0.020, Percent Change: +7.84%