Nasdaq launches clean energy index
Starting on May 18, 2006, NASDAQ will provide information on the companies’ performance to investors. The index will include companies involved in the manufacturing, development, distribution, and installation of clean energy technologies such as solar photovoltaics, biofuels, and advanced batteries.
Five major sub-sectors will be covered: Renewable Electricity Generation, Renewable Fuels, Energy Storage & Conversion, Energy Intelligence, and Advanced Energy-Related Materials.
“This index will bring much needed attention, focus and definition to a sector that is already playing a lead role in addressing the global energy crisis,” said NASDAQ Executive Vice President John Jacobs. “It is fitting for NASDAQ and Clean Edge to offer this important index, as we promote innovation, forward thinking and high technology - traits that characterize the companies in this new index.”
The Index will be calculated using ‘modified market capitalization methodology’ and information provided on a price return basis (NASDAQ: CLEN) and a total return basis (NASDAQ: CLNX).
Clean technology is on of the fastest growing market segments in the world, now representing around eight percent of total North American Investments.
By 2009, clean technology companies will need about $3.4 billion in capital investment, Nicholas Parker, Chairman of the Cleantech Capital Group, explained at GLOBE 2006. Mr. Parker moderated two sessions at this year’s GLOBE: ‘Cleantech Investing: Is it the Next Big Thing?’ and ‘Corporate Cleantech Venturing for Sustainable Growth’.