The 20 constituent companies of the GEIX which are quoted in countries that signed the Kyoto Protocol are up by an average of 21.9%. By contrast, the 30 GEIX constituents quoted in the U.S and Australia, which did not sign the Kyoto Protocol, are down by an average of 13.3%.
The GEIX tracks the performance of the largest 50 pure-play quoted renewable and low-carbon energy technology companies worldwide.
Highlights from the GEIX's performance over the first quarter of 2005 are as follows:
- Overall, the GEIX was up just 0.25% at the end of the quarter. In the same period, by comparison, the Nasdaq was down 9.3% on general technology sentiment, and the Amex Oil Index was up 15.0% on the back of high oil prices.
- Performance of GEIX constituents quoted on stock markets in Kyoto signatory countries was as follows: Frankfurt (4 companies) +52.7%; AIM (7 companies) +28.3%; Copenhagen (2 companies) +19.5%; Toronto (5 companies) +7.3%
- Performance of GEIX constituents quoted on stock markets in non-Kyoto signatory countries performed as follows: Nasdaq (24 companies) -13.8%; Australian Stock exchange (4 companies) +4.2%
- Leading sectoral growth were the 5 Biomass and Biofuels businesses in the GEIX, with average performance of +34.9%, closely followed by solar with +33.0%
- Poorest performing sectors were fuel cells/hydrogen with a drop of 13.6%, and Efficiency Breakthrough with a drop of 16.7%
- The quarter saw the second-largest ever IPO of a pure-play new energy company, Conergy AG, which completed a EUR 243m float in Frankfurt in March. Conergy is now trading around 30% up on its IPO price with a market capitalization of around EUR 695m (GBP 480m / USD 900m). The largest ever IPO in renewable or low-carbon energy technology was Ballard Power Systems Inc, the Canadian fuel cell company, which raised USD 341m on NASDAQ in February 2000.
- Other IPOs (or reverse IPOs) of renewable energy companies worldwide during the quarter included Solartron Co Ltd (Solar/Bangkok), Reinecke & Pohl Sun Energy AG (Solar/Frankfurt), Renewable Energy Holdings (Wind/AIM), Intelligent Energy Inc (Fuel Cells/NASDAQ), MCC Energy Plc (Various/AIM) and Voller Energy Group Plc (Fuel Cells/AIM).