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.

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Author: Chris de Morsella (146 Articles)

After a decade performing as a lead guitarist for rock bands, Chris de Morsella decided to return to the career his uncle mentored him in as a youth....Software Engineering. Since that time he has thrown himself into his work. He has designed a compound document publishing architecture for regulatory submissions capable of handling very large multi-document FDA regulatory drug approval submissions, for Liquent, a division of Thompson Publishing. At the Associated Press, Chris worked with senior editors at facilities around the world, to develop a solution for replacing existing editorial systems with an integrated international content management solution. He lead the design effort at Microsoft for a help system for mobile devices designed to provide contextual help for users. Chris also helped to develop the web assisted installer for LifeCam2.0, the software for Microsoft’s web cam and developed late breaking features for the product He also served with the Rhapsody client team to redesign and build a major new release of Real Networks Rhapsody client product. His most recent assignment has been Working with the Outlook Mobile Time Management team for the next release of Outlook Mobile for the SmartPhone. Chris' interests are in green building and architecture, smart grid, the cloud, geo-thermal energy, solar energy, smart growth, organic farming and permaculture. Follow Chris on Twitter.