Heliogen, Inc. (leading provider of AI-enabled concentrated solar energy technology) is set to join the broad-market Russell 3000® Index.
It will join at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, according to a final list of index additions posted on June 17.
Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means 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. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Bill Gross, Founder and Chief Executive Officer of Heliogen, said, “The Heliogen team looks forward to continually increasing our market presence and speaking with an ever-broadening range of investors interested in the decarbonizing heavy industry worldwide.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.