Nasdaq OMX Group Inc. and Clean Edge Inc. have announced the results of their semi-annual review of the Nasdaq Clean Edge Green Energy Index (CELS), which will become effective with the market open on Monday, March 23, 2009. The current evaluation, which occurs on a semi-annual basis March and September comes at a time when stock markets around the world are in steep decline from the valuations they enjoyed at their peaks.
NASDAQ announced that one comapny, Raser Technologies Inc (RZ) will be added to the index while as a result of this evaluation the following eleven stocks are being removed from the index. These are: Altair Nanotechnologies Inc. (ALTI), Ascent Solar Technologies Inc. (ASTI), Aventine renewable Energy Holdings Inc. (AVR), C&D Technologies Inc. (CHP), Capstone Turbine Corporation (CPST), China Sunergy Co. Ltd. (CSUN), EMCORE Corporation (EMKR), Gushan Environmental Energy Limited (GU), Plug Power Inc. (PLUG), Power-One Inc. (PWER) and Vicor Corporation (VICR)
The Clean Edge Green Energy Index (CELS) is a modified market capitalization-weighted index designed to track the performance of companies that are primarily manufacturers, developers, distributors, or installers of clean-energy technologies. The index tracks five major sub-sectors; these are: Renewable Electricity Generation, Renewable Fuels, Energy Storage & Conversion, Energy Intelligence and Advanced Energy-Related Materials.In addition to doing business in one or more of the areas that this indice tracks Securities must also meet other eligibility criteria, including minimum requirements for market capitalization, average daily share volume and price. The dropping of 11 companies from the CELS index is evidence of just how tough it has become for clean tech companies in the current recession.
© 2009, Chris de Morsella. All rights reserved. Do not republish.