Montauk Renewables added to stock index

Pittsburgh-based landfill gas-to-energy technology firm Montauk Renewables Inc. says it will join the Russell 3000 Index effective June 27. The company also recently was added to an MSCI USA Small Cap Index at the end of May.

Russell indexes are reconstituted annually to capture the 4,000 largest United States stocks as of May 6 of each year, ranking them by total market capitalization, according to Montauk.

“Montauk’s upcoming inclusion in the Russell 3000 Index and recent addition to the MSCI USA Small Cap Index demonstrates our recent progress and marks another significant capital markets milestone for the company following our initial public offering and listing on the Nasdaq in January 2021,” says Sean McClain, the firm’s president and CEO.

Adds McClain, “We welcome the increased exposure to the institutional investor community as we continue to execute against our strategic plan to optimize our existing operations and position ourselves for further growth with on-going evaluation of various strategic opportunities.” 

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies, according to Montauk. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes, adds the firm.

The MSCI Global Small Cap Indexes captures small cap representation in 23 countries, comprised of nearly 4,500 constituent companies, according to the landfill gas-to-energy firm.

Montauk Renewables describes itself as having more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The company has current operations at 15 projects located in seven different states.