SAN DIEGO, Calif., March 1 /PRNewswire-FirstCall/ -- This Thursday, PowerShares Capital Management LLC, will introduce a new exchange traded fund (ETF) based on the WilderHill Clean Energy Index, the first index comprised of companies focused on developing renewable sources of energy, clean energy technologies and environmentally-friendly technologies within the energy sector. The "PowerShares WilderHill Clean Energy Portfolio" will begin trading on the American Stock Exchange March 3, 2005 and will replicate the WilderHill Clean Energy Index.
The WilderHill Clean Energy Index was developed by Dr. Robert Wilder as a benchmark for the clean and renewable energy sector. According to industry research, the total clean energy market for wind, solar and fuel cells will grow to $92 billion in 2013, roughly seven times its present size. Lower costs from advances in technology are helping fuel the growth in alternative energy investment. According to the U.S. Department of Energy, the cost of wind and solar technology has declined by 80% over the past two decades. As the prices of crude oil and other petroleum products remain near historic highs, investment in the development and use of alternative sources of energy becomes more attractive and cost effective. Thirteen states now require utilities to obtain a portion of their electricity from renewable sources.
Nonpolluting alternative energy sources including wind, solar, hydroelectric, bio-fuel, geothermal, hybrid automotive and fuel cells have become multi-billion dollar markets in recent years. The WilderHill Clean Energy Index uses modified equal dollar weighting and is composed of companies that are working in six clean energy areas:
(1) Power Delivery and Conservation (companies working on technologies that match power loads to outputs, conversion of DC to AC, etc.); (2) Cleaner Utilities (companies focused on cleaner methods of making electric power including wind, solar, bio-fuel, geothermal and hydroelectric); (3) Energy Conversion (companies developing devices to convert fuels such as bio-fuels to electric power); (4) Cleaner Fuels (companies involved in researching the production of hydrogen as a power source for such things as personal electronic devices and automobiles); (5) Energy Storage (companies creating products that store energy); (6) Renewable Energy Harvesting (producers of renewable energy and manufacturers of products that are used to capture and convert renewable energy such as solar, wind, and bio-fuels.) The following 37 companies comprise the WilderHill Clean Energy Index. WilderHill Clean Energy Index Components as of: 02/25/05 Company Name Symbol % Weighting Distributed Energy Sys DESC 4.53 % Evergreen Solar ESLR 4.35 % Plug Power PLUG 3.74 % Medis Technologies MDTL 3.52 % FuelCell Energy FCEL 3.37 % Maxwell Technologies MXWL 3.35 % Energy Conv Devices ENER 3.30 % Itron Inc ITRI 3.24 % Power Integrations POWI 3.21 % Zoltek Co ZOLT 3.19 % Scottish Power Ads SPI 3.17 % Amer Power Conversion APCC 3.03 % Kyocera Corp Adr KYO 3.01 % Kemet Corp KEM 2.98 % International Rectifier Corporation IRF 2.92 % Capstone Turbine CPST 2.84 % Hydrogenics Corp HYGS 2.80 % Intermagnetics Genl IMGC 2.80 % Ultralife Batteries ULBI 2.74 % Ballard Power Systems BLDP 2.69 % Quantum Fuel Sys Tech QTWW 2.64 % Active Power ACPW 2.58 % Emcore Corp EMKR 2.54 % IMPCO Technologies IMCO 2.51 % Mechanical Technology MKTY 2.39 % C&D Technologies CHP 2.38 % Echelon Corp ELON 2.35 % Magnetek Inc MAG 2.20 % Amer Superconductor AMSC 2.01 % IDACORP Inc IDA 1.92 % Central VT Pub Svc CV 1.90 % Power-One PWER 1.86 % Calpine Corp CPN 1.77 % Air Products & Chem APD 1.65 % Praxair Inc PX 1.57 % BOC Group Ads BOX 1.56 % MGP Ingredients MGPI 1.38 %
For additional information and further details about the WilderHill Clean Energy Index, please visit http://www.wildershares.com/, or contact CTA Public Relations at 303-665-4200.
Contact: Bevo Beaven, Vice President Bill Conboy, Senior Account Executive CTA Public Relations 303-665-4200 bevo@ctapr.com; bill@ctapr.com
WilderShares LLC
The WilderHill Clean Energy Index was developed by Dr. Robert Wilder as a benchmark for the clean and renewable energy sector. According to industry research, the total clean energy market for wind, solar and fuel cells will grow to $92 billion in 2013, roughly seven times its present size. Lower costs from advances in technology are helping fuel the growth in alternative energy investment. According to the U.S. Department of Energy, the cost of wind and solar technology has declined by 80% over the past two decades. As the prices of crude oil and other petroleum products remain near historic highs, investment in the development and use of alternative sources of energy becomes more attractive and cost effective. Thirteen states now require utilities to obtain a portion of their electricity from renewable sources.
Nonpolluting alternative energy sources including wind, solar, hydroelectric, bio-fuel, geothermal, hybrid automotive and fuel cells have become multi-billion dollar markets in recent years. The WilderHill Clean Energy Index uses modified equal dollar weighting and is composed of companies that are working in six clean energy areas:
(1) Power Delivery and Conservation (companies working on technologies that match power loads to outputs, conversion of DC to AC, etc.); (2) Cleaner Utilities (companies focused on cleaner methods of making electric power including wind, solar, bio-fuel, geothermal and hydroelectric); (3) Energy Conversion (companies developing devices to convert fuels such as bio-fuels to electric power); (4) Cleaner Fuels (companies involved in researching the production of hydrogen as a power source for such things as personal electronic devices and automobiles); (5) Energy Storage (companies creating products that store energy); (6) Renewable Energy Harvesting (producers of renewable energy and manufacturers of products that are used to capture and convert renewable energy such as solar, wind, and bio-fuels.) The following 37 companies comprise the WilderHill Clean Energy Index. WilderHill Clean Energy Index Components as of: 02/25/05 Company Name Symbol % Weighting Distributed Energy Sys DESC 4.53 % Evergreen Solar ESLR 4.35 % Plug Power PLUG 3.74 % Medis Technologies MDTL 3.52 % FuelCell Energy FCEL 3.37 % Maxwell Technologies MXWL 3.35 % Energy Conv Devices ENER 3.30 % Itron Inc ITRI 3.24 % Power Integrations POWI 3.21 % Zoltek Co ZOLT 3.19 % Scottish Power Ads SPI 3.17 % Amer Power Conversion APCC 3.03 % Kyocera Corp Adr KYO 3.01 % Kemet Corp KEM 2.98 % International Rectifier Corporation IRF 2.92 % Capstone Turbine CPST 2.84 % Hydrogenics Corp HYGS 2.80 % Intermagnetics Genl IMGC 2.80 % Ultralife Batteries ULBI 2.74 % Ballard Power Systems BLDP 2.69 % Quantum Fuel Sys Tech QTWW 2.64 % Active Power ACPW 2.58 % Emcore Corp EMKR 2.54 % IMPCO Technologies IMCO 2.51 % Mechanical Technology MKTY 2.39 % C&D Technologies CHP 2.38 % Echelon Corp ELON 2.35 % Magnetek Inc MAG 2.20 % Amer Superconductor AMSC 2.01 % IDACORP Inc IDA 1.92 % Central VT Pub Svc CV 1.90 % Power-One PWER 1.86 % Calpine Corp CPN 1.77 % Air Products & Chem APD 1.65 % Praxair Inc PX 1.57 % BOC Group Ads BOX 1.56 % MGP Ingredients MGPI 1.38 %
For additional information and further details about the WilderHill Clean Energy Index, please visit http://www.wildershares.com/, or contact CTA Public Relations at 303-665-4200.
Contact: Bevo Beaven, Vice President Bill Conboy, Senior Account Executive CTA Public Relations 303-665-4200 bevo@ctapr.com; bill@ctapr.com
WilderShares LLC
