CIBC announces changes to the CIBC Atlas Clean Energy Index (NACEX)

Rhea-AI Summary

CIBC announced the rebalance of the CIBC Atlas Clean Energy Index (NYSE: NACEX), effective after business on December 17, 2021. The index will add six new constituents: EVgo, Microvast Holdings, Proterra, Li-Cycle Holdings, Hyzon Motors, and Volta. The only removal will be Beam Global. Notably, these changes do not reflect CIBC's investment opinions on these securities. CIBC serves 11 million clients across the U.S. and Canada, offering a range of financial services.

Positive

• Addition of six new clean energy companies, enhancing index diversification.
• Inclusion of companies like EVgo and Proterra may attract investor interest.

Negative

• Removal of Beam Global could indicate a drop in its perceived viability or performance.

DENVER, Dec. 13, 2021 /PRNewswire/ - CIBC today announced that the CIBC Atlas Clean Energy Index (NYSE: NACEX) rebalance following the close of business on December 17, 2021 will result in the subsequent changes:

Constituents to be added:

• EVgo, Inc. (Ticker: EVGO)
• Microvast Holdings, Inc. (Ticker: MVST)
• Proterra, Inc. (Ticker: PTRA)
• Li-Cycle Holdings Corp. (Ticker: LICY)
• Hyzon Motors Inc. (Ticker: HYZN)
• Volta, Inc. (Ticker: VLTA)

Constituents to be removed:

• Beam Global (Ticker: BEEM)

Constituent additions to and deletions from the Index do not reflect an opinion by CIBC US Private Wealth Management on the investment merits of the respective securities. For further information, please contact CIBC US Private Wealth Management at 720.221.5000.

About CIBC
CIBC is a leading North American financial institution with 11 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Banking solutions are offered through CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. CIBC Private Wealth Group and its subsidiaries do not provide, and are not responsible for, the products and services offered by CIBC Bank USA. CIBC Bank USA (Bank) will not pay employees of CIBC Private Wealth Group or its subsidiaries for referring clients to Bank, but to the extent permitted by applicable laws and regulations, the referral of clients to Bank for eligible products or services may be considered by CIBC Private Wealth Group in determining discretionary compensation to employees. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.

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SOURCE CIBC

FAQ

What are the new additions to the CIBC Atlas Clean Energy Index (NACEX)?

The new additions are EVgo, Microvast Holdings, Proterra, Li-Cycle Holdings, Hyzon Motors, and Volta.

When will the changes to the NACEX take effect?

The changes will take effect after business on December 17, 2021.

Which company is being removed from the NACEX?

Beam Global is the only company being removed from the NACEX.

Does the rebalance of NACEX reflect CIBC's opinion on the companies involved?

No, the additions and deletions do not reflect CIBC's investment merits opinion on these securities.

Who can I contact for more information about the NACEX changes?

For more information, contact CIBC US Private Wealth Management at 720.221.5000.