Jul 9 2008
Gurit, a leading manufacturer of high-end composite materials for applications in Wind Energy, Transportation and Marine markets, has been selected by The Cleantech Group LLC in conjunction with the American Stock Exchange (AMEX) to be a component company of the CTIUS Cleantech Index. Unlike indices that specifically track narrow sectors such as renewable energy or water, the Cleantech Index includes leading companies from a broad range of sectors such as advanced materials, agriculture, transportation, manufacturing, in addition to energy efficiency, renewables and water. A growing range of financial products are based on the CTIUS index; according to The Cleantech Group, there are about USD 200 million in exchange-traded funds and other derivatives based upon CTIUS.
The index is comprised of currently 76 companies that all must meet 18 screening criteria just to be considered for selection – including profitability, growth, environmental impact, industry leadership, intellectual property, strategy, management quality, liquidity etc. The Cleantech Group claims that there were in fact less than 90 stocks in the entire investable universe of stocks that could pass all of its screens. Non-US companies approximately account for half of the index. Gurit Holding was newly included with the latest expansion to the Index effective as at June 30, 2008 together with 23 other European companies, six from Asia and four from North America. Index companies must derive at least half of their revenues or operating profits from clean tech technology business and pass 16 other quantitative and qualitative screens.
Companies selected to become part of the CTIUS index together with Gurit include Wind Energy specialists like Gamesa, Iberdrola Renewables, Suzlon Energy, Vestas Wind Systems. For current index data and the full list of component companies of CTIUS Cleantech Index.