PITTSBURGH, June 15, 2022 (GLOBE NEWSWIRE) — Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in biogas management, recovery and conversion in Renewable Energy Gas (“RNG”), announced today that it will join the broad market Russell 3000® Index following the annual 2022 Russell Indices Replenishment, effective after the US market opens on June 27, according to a preliminary list of additions released on June 3. Additionally, Montauk Renewables was recently added to the MSCI Global Small Cap Indices within the MSCI USA Small Cap Index, which became effective after market close on May 31, 2022.
The annual Russell Indices Replenishment captures the top 4,000 U.S. stocks as of May 6, ranking them by total market capitalization. Membership in the US All Cap Russell 3000® The index, which remains in place for a year, means automatic inclusion in the large-cap Russell 1000® Russell 2000 Index or Small Cap® Index as well as appropriate growth and value style indices. FTSE Russell determines membership in its Russell indices primarily by objective market capitalization rankings and style attributes.
“Montauk’s upcoming inclusion in the Russell 3000® The index and recent addition to the MSCI USA Small Cap Index illustrates our recent progress and marks another major capital markets milestone for the company following our January 2021 IPO and Nasdaq listing,” commented Sean McClain, President and CEO. . “We welcome the increased exposure to the institutional investment community as we continue to execute our strategic plan to optimize our existing operations and position ourselves for future growth with continued evaluation of various strategic opportunities.”
Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Around $12 trillion in assets are benchmarked against US Russell indices. Russell Indices are part of FTSE Russell, one of the world’s leading index providers.
For more information on the Russell 3000® Index and the reconstitution of the Russell indices, go to the “Russell Reconstruction” section of the FTSE Russell website.
The MSCI Global Small Cap Indices capture small cap representation across 23 Developed Market (DM) countries. With 4,493 constituents, the index covers around 14% of the float-adjusted market capitalization in each country.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas to RNG. The Company captures the methane, prevents it from being released into the atmosphere, and converts it either into RNG or into electrical energy for the electrical grid (“Renewable Electricity”). The company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience developing, operating and managing landfill methane-powered renewable energy projects. The company currently operates from 15 operating projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina and Texas. The company sells RNG and renewable electricity, taking advantage of environmental attribute bonuses available under federal and state policies that encourage their use. For more information, visit https://ir.montaukrenewables.com.
About FTSE Russell
FTSE Russell is a global index leader providing innovative benchmarking, analytics and data solutions to investors around the world. FTSE Russell calculates thousands of indices that measure and compare markets and asset classes in over 70 countries, covering 98% of the global investment market.
The expertise and products of the FTSE Russell Index are widely used by institutional and retail investors around the world. Around $20 trillion is currently indexed to the FTSE Russell indices. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen the FTSE Russell indices to benchmark their investment performance and create ETFs, structured products and derivatives based on indices.
A set of universal principles guides the design and management of the FTSE Russell Index: a transparent rules-based methodology is informed by independent committees made up of leading market participants. FTSE Russell focuses on applying the highest industry standards in index design and governance and adheres to the principles of IOSCO. FTSE Russell is also focused on index innovation and client partnerships as it seeks to improve the breadth, depth and reach of its offering.
FTSE Russell is 100% owned by the London Stock Exchange Group.
For more information, visit www.ftserussell.com.
MSCI is a leading provider of essential decision support tools and services for the global investment community. With over 45 years of expertise in research, data and technology, we drive better investment decisions by enabling clients to understand and analyze key risk and return drivers and build with confidence more efficient portfolios. We create industry-leading research-enhanced solutions that clients use to better understand and improve transparency throughout the investment process. For more information, visit www.msci.com.
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