LUGANO, Switzerland & WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–Power Vault Holdings, Inc. (NYSE: NRGV) (“Power Vault”), a pacesetter in sustainable, grid-scale vitality storage options, in the present day introduced that they’ve joined the Russell 2000® Index following the conclusion of the 2022 Russell indexes annual reconstitution, efficient in the present day, Monday, June 27, 2022 at market open.
Annual Russell indexes reconstitution captures the 4,000 largest US shares as of Might 6, rating them by whole market capitalization. Membership within the US all-cap Russell 3000® Index, which stays in place for one 12 months, means computerized inclusion within the large-cap Russell 1000® Index or small-cap Russell 2000® Index in addition to the suitable progress and worth fashion indexes. FTSE Russell determines membership for its Russell indexes primarily by goal, market-capitalization rankings and elegance attributes.
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“We’re excited to be added to the Russell household of indices,” stated Robert Piconi, Chairman, Co-Founder and CEO of Power Vault. “Our inclusion within the Russell 2000® marks one other essential milestone for Power Vault throughout this transformative 12 months for the corporate, giving us a higher alternative to extend our publicity to the broader funding neighborhood, and broaden consciousness for our mission of accelerating the decarbonization of our planet.”
Russell indexes are broadly utilized by funding managers and institutional traders for index funds, and as benchmarks for lively funding methods. Roughly $12 trillion in belongings are benchmarked in opposition to Russell’s US indexes. Russell indexes are a part of FTSE Russell, a number one world index supplier.
For extra data on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” part on the FTSE Russell web site.
About Power Vault
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Power Vault develops and deploys sustainable vitality storage options designed to remodel the world’s strategy to utility-scale vitality storage in realizing decarbonization whereas sustaining grid resiliency. The corporate’s proprietary gravity-based vitality storage expertise and vitality storage administration and integration platform are meant to assist utilities, impartial energy producers and enormous industrial vitality customers considerably cut back their levelized value of vitality whereas sustaining energy reliability. Using eco-friendly supplies with the flexibility to combine waste supplies for useful re-use, Power Vault is facilitating the shift to a round financial system whereas accelerating the clear vitality transition for its prospects. For added data, please go to: www.energyvault.com.
About FTSE Russell
FTSE Russell is a worldwide index chief that gives revolutionary benchmarking, analytics and knowledge options for traders worldwide. FTSE Russell calculates hundreds of indexes that measure and benchmark markets and asset lessons in additional than 70 nations, protecting 98% of the investable market globally.
FTSE Russell index experience and merchandise are used extensively by institutional and retail traders globally. Roughly $20 trillion is at the moment benchmarked to FTSE Russell indexes. For over 30 years, main asset house owners, asset managers, ETF suppliers and funding banks have chosen FTSE Russell indexes to benchmark their funding efficiency and create ETFs, structured merchandise and index-based derivatives.
A core set of common rules guides FTSE Russell index design and administration: a clear rules-based methodology is knowledgeable by impartial committees of main market individuals. FTSE Russell is concentrated on making use of the best business requirements in index design and governance and embraces the IOSCO Rules. FTSE Russell can be targeted on index innovation and buyer partnerships because it seeks to boost the breadth, depth and attain of its providing.
FTSE Russell is wholly owned by London Inventory Alternate Group.
For extra data, go to www.ftserussell.com.