BOSTON–Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“), an innovation-driven company in the fuel cell and hydrogen technology space, today announced it is set to join the U.S. broad-market Russell 3000® Index at the conclusion of this year’s Russell indexes annual reconstitution.
The preliminary list of additions was released earlier this month on June 4, 2021, and the final additions will become effective after the U.S. market opens on June 28, 2021.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year. This means Advent Technologies will also be included in the Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Dr. Vasilis Gregoriou, Advent Technologies Chairman and Chief Executive Officer, said, “Advent’s addition to the Russell 3000® Index demonstrates our increasing expansion across markets as a technology of choice in the global energy transition to hydrogen. We look forward to continuing along our fast growth trajectory in providing industries with our patented high-temperature fuel cells that allow the flexibility to decarbonize faster and more efficiently though Advent’s “Any Fuel. Anywhere.” option.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.