FOR IMMEDIATE RELEASE
LEAWOOD, KS – June 13, 2022 – TortoiseEcofin today announced that Renewable Energy Group Inc (NYSE: REGI) will be removed from the Tortoise Decarbonization Infrastructure IndexSM (DCRBN), Tortoise Recycling Decarbonization IndexSM (RCYCL), and the Tortoise Recycling Decarbonization UCITSSM Index (RECYCLE), as a result of the approved merger with Chevron Corp (NYSE: CVX). Due to the merger, REGI will be removed from all three indices at market open on Wednesday, June 15, 2022.
As per index methodology, special rebalancing is not required for any of the three indices and the deleted constituent’s weight will be distributed pro-rata to remaining index constituents.
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.
The Tortoise Decarbonization Infrastructure IndexSM is a float-adjusted, capitalization weighted index of decarbonizing infrastructure companies that are organized and have their principal place of business in the United States or Canada. We define a decarbonization infrastructure company as a company that primarily owns natural gas and/ or natural gas liquids infrastructure including pipelines and local distribution companies, electric generation, transmission and distribution, battery storage, electric charging infrastructure, residential rooftop solar facilities and/ or renewable fuels.
The Tortoise Recycling Decarbonization IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.
The Tortoise Recycling Decarbonization UCITS IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. The Index includes an assessment of environmental, social, and governance (ESG) considerations. Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.
The indices mentioned above are the exclusive property of TIS Advisors and is calculated by Solactive AG (“Solactive”). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG (“Solactive”) in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. TortoiseEcofin makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
For more information contact Jen Ashlock at (913) 981-1020 or firstname.lastname@example.org