Satcon Added to Russell 3000® Index
June 29 2009 - 12:05PM
Business Wire
Satcon (NASDAQ CM: SATC), a leading provider of utility scale
distributed power solutions for the renewable energy market,
announced today that it has been added to the Russell 3000� Index
following the Russell Investment Group�s reconstitution of its
family of U.S. indices on June 26, 2009.
Annual reconstitution of Russell�s U.S. indexes captures the
4,000 largest U.S. stocks as of the end of May, ranking them by
total market capitalization. Membership in the Russell 3000, 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. Russell
determines membership for its equity indexes primarily by
objective, market-capitalization rankings and style attributes. The
Russell 3000 also serves as the U.S. component to the Russell
Global Index, which Russell launched in 2007.
�We are very pleased to have been included in this year�s
reconstitution of Russell Indexes as it will generate greater
interest in our stock among institutional investors,� said Steve
Rhoades, President and Chief Executive Officer of Satcon. �The
company has been very focused on building shareholder value and
driving performance of our renewable energy solutions business, and
inclusion in this credible global equity index is a clear
indication of our progress.�
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
passive and active investment strategies. Russell estimates that
$4.4 trillion in assets currently are benchmarked to their indexes.
More information on the Russell 3000 and other Russell Indexes is
available at http://www.russell.com.
About Satcon
Satcon Technology Corporation is a leading provider of utility
scale distributed power solutions for the renewable energy market,
enabling the industry�s most advanced, reliable and proven clean
energy alternatives. For over 24 years, Satcon has designed and
delivered the next generation of efficient energy systems for solar
photovoltaic, stationary fuel cells, wind-turbines, and energy
storage systems. To learn more about Satcon, please visit
www.Satcon.com.
Safe Harbor
Statements made in this press release that are not historical
facts or which apply prospectively are forward-looking statements
that involve risks and uncertainties. These forward-looking
statements are identified by the use of terms and phrases such as
"will," "intends," "believes," "expects," "plans," "anticipates"
and similar expressions. Investors should not rely on forward
looking statements because they are subject to a variety of risks
and uncertainties and other factors that could cause actual results
to differ materially from the company's expectation. Additional
information concerning risk factors is contained from time to time
in the company's SEC filings, including its Annual Report on Form
10-K and other periodic reports filed with the SEC. Forward-looking
statements contained in this press release speak only as of the
date of this release. Subsequent events or circumstances occurring
after such date may render these statements incomplete or out of
date. The company expressly disclaims any obligation to update the
information contained in this release.
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