The American Stock Exchange(R) (Amex (R)) has commenced publishing the WilderHill New Energy Global Innovation Index (ticker symbol: NEX). The new index is comprised of companies worldwide whose technologies and services focus on the generation and use of renewable energy, conservation and efficiency, and advancement of low-carbon energy solutions.
The index was created by, and is a trademark of WilderHill New Energy Finance, LLC, which is a joint venture between Rob Wilder of WilderShares LLC, Josh Landess of Tucson, Arizona, and New Energy Finance Limited of London.
Dr. Robert Wilder, whose WilderShares LLC publishes the WilderHill Clean Energy Index of US-based clean energy stocks (ticker symbol: ECO), said, “This new index represents the global nature of alternative energy and conservation technologies that are swiftly emerging around the world. We’re proud to partner with New Energy Finance on the world’s first live index of companies providing solutions most relevant to climate change.”
Michael Liebreich, Founder and CEO of London-based New Energy Finance, said, “We think that the launch of the NEX marks the coming of age of an important industry. In 2005, our analysis shows that renewable and low carbon energy accounted for around 7% of global energy investment. This proportion is growing rapidly, and the NEX is going to track the performance of those companies most likely to benefit.”
The WilderHill New Energy Global Innovation Index (NEX) is a modified dollar-weighted index. It consists of companies whose lower-carbon approaches are relevant to climate change, and whose technologies help reduce emissions relative to traditional fossil fuels. The index consists of companies with businesses in wind, solar, biomass, biofuels, small-scale hydro, geothermal, marine and other renewable energy businesses, as well as power storage and distribution, fuel cells, hydrogen, end-use efficiency and supporting services. The majority of index constituents are listed on exchanges outside the United States, and the index rebalances on the last trading day of each March, June, September and December. The index divisor was initially determined to yield a benchmark value of 100.00 at the close of trading December 30, 2002.
Cliff Weber, Senior Vice President of the Amex ETF Marketplace, said, “The American Stock Exchange is pleased to be collaborating with Robert Wilder and his partners in the development and publishing of this new global innovative energy index. We look forward to listing an exchange traded fund and other products based on this important new index in the future.”
Josh Landess, a clean energy equity researcher who played a leading role in the design of the new index said, “Our team of international researchers, working closely with representatives of the American Stock Exchange, has worked hard to identify and qualify relevant companies around the world. The NEX contains participants quoted on no fewer than 18 different markets.”
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