NeoVolta (NASDAQ:NEOV), a solar battery manufacturer and developer of smart residential energy storage solutions, will join the Russell Microcap® Index following the 2023 Russell indexes annual reconstitution, which takes effect once the U.S. market opens on June 26, 2023.
Membership in the Russell Microcap® Index, which is a one-year term, allows for automatic inclusion in relevant growth and value-style indexes.
FTSE Russell determines membership for its indexes based on objective market capitalization rankings and style attributes, and serves as the benchmark for approximately $16 trillion in assets. Investment managers and institutional investors heavily rely on Russell indexes as benchmarks for their investment strategies.
“We’re honored to join the Russell Microcap® Index this year, one of the most esteemed performance benchmarks for emerging U.S. companies,” says Brent Willson, CEO of NeoVolta. “We were listed on the NASDAQ just last year, so we see this as a testament to NeoVolta’s growing presence in the solar and energy storage markets.”
Being included in the Russell Microcap® Index is a significant milestone for NeoVolta. It highlights the market’s recognition of the company’s growth in the solar energy storage industry, serving to enhance NeoVolta’s presence and authority within the broader energy landscape.
