Eos Energy Enterprises, a leader and developer of energy storage solutions, announced this Monday it will enter the Russell 3000 Index; a stock market index that serves for investors as a platform to plan strategic investments.
Firstly, the entrance to the Russell Index will happen at the conclusion of the 2021 Russell indexes annual reconstitution; which will become effective after the US market opens on June 28; according to a preliminary list of additions posted June 4.
Secondly, Eos energy will be on the Russel Index for a whole year; as entering to the 3000 benchmark means also automatic inclusion in the large-cap Russell 1000 Index; or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes.
Thirdly, Eos Energy entered into the index after the company presented strong capital performance; indeed, the FTSE Russell determines membership for its Russell indexes primarily by objective; also, market-capitalization rankings and style attributes.
Also recommended for you: Data analytics grow with partnering of Wood Mac and Quinbrook. Click here to read.
Eos Energy achieves growth milestone with indexation
Moreover, about the inclusion of the company, Sagar Kurada, Chief Financial Officer of Eos, said. “The inclusion of Eos in the Russell 3000 Index marks an exciting milestone for our company; it is a testament to the market reception to our technology and the tremendous opportunity we have in front of us.”
He also remarked. “We are pleased to be listed among the distinguished companies in the Russell indexes; we also look forward to deeper engagement with investors and other key stakeholders.”
On the other hand, as said above, the Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. In fact, approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes; which are part of FTSE Russell, a leading global index provider.
Finally, Eos Energy features a cutting-edge Znyth technology; which is an aqueous zinc battery; designed to overcome the limitations of conventional lithium-ion technology. They are safer, scalable, efficient, sustainable; and also manufactured in the U.S.