- HANetf’s Climate Change ETF has undergone a rebalance, adding 14 new names.
- The new constituents include Wallbox, Rivian Automotive Inc., and Tritium DCFC Limited.
- These additions aim to capitalise on the renewed boom in electric vehicle growth
September 2022, London
HANetf, Europe’s first independent white-label ETF and ETC platform, and leading provider of thematic ETFs, and crypto and commodity ETCs, is delighted to announce that the iClima Global Decarbonisation Enablers UCITS ETF (CLMA) has added exciting new constituents to its underlying index after a recent rebalance.
On 3rd August, iClima Earth rebalanced the iClima Global Decarbonisation Enablers Index with 14 new names, bringing the total number of constituents to 174.
Wallbox (WBC, up 4.39% in July, down -43.27% YTD) was added to the index as part of the rebalance; the electric vehicle charging company posted strong Q2 numbers, with revenues increasing by 124% compared to Q2 2021. [1]
Wallbox also made two acquisitions in Q2: COIL Inc., a leading EV charging installer serving the US market, and ARES Electronics, a printed circuit board provider, the latter of which could prove to be a strong asset given current supply chain woes.[2] In addition to this, they also partnered with Nissan to provide electric vehicle owners in the US with a home charging package. [3]
Another addition, electric vehicle company Rivian Automotive Inc. (RIVN, up 33.26% in July, down -66.92% YTD), is forecasting the production of 25,000 electric vehicles in 2022.[4] Despite losses in the first half of the year, the company is heavily investing in production capacity, and could be producing 100,000 electric vehicles per year by 2024.[5] As of 30th June 2022, Rivian had 98,000 pre-orders, increasing by 8,000 since May.[6] We thus believe that the company poses significant upside potential.
Furthermore, Tritium DCFC Limited (DCFC, up 8.37% in July, down -33.8% YTD) is a global player in the direct current chargers for electric vehicles. The Australian-based company was added to the index this month, and on the 23rd of August it opened its first US-based EV fast charger manufacturing facility in Tennessee. [7]
The new US facility will produce six times the number of charger units than its biggest Australian equivalent.[8] Tritium’s expansion onto US soil has been highlighted as a key part of the Biden administration’s initiative to create clean energy jobs and reduce carbon emissions.[9] Moreover, the move should make US supply chains more self-reliant. [10]
Please remember that all performance figures are showing net data. Past performance is not indicative of future performance and when you invest in ETFs your capital is at risk.
The full list of index additions is listed below:
Gabriela Herculano, manager of the iClima Global Decarbonisation Enablers UCITS ETF (CLMA), comments:
“The iClima Decarbonization Enablers Index rebalances twice a year. In the rebalance this summer we added some very exciting names to the universe. CLMA was designed to be a “one stop shop” representing all the relevant solutions to climate change mitigation and the new additions make CLMA even more comprehensive.
“CLMA does not represent companies pre-revenue, so now we were able to add Rivian and Lucid to the universe of green transportation solutions. Both companies being added at a valuation significantly below their initial public offering prices.
“We also now represent large players that went public after being spun off. That is the case of Corporación Acciona Energías Renovables and LG Energy Solution. The former a large renewable energy developer and the latter a global battery manufacturer.
“Broadening its international representation were the addition of Taiwanese Gogoro, the micro mobility player with an unique battery swapping solution, Indian renewable developer ReNew Energy Global and Barcelona based Wallbox NV, the V2G enabler and developer of smart charging solutions.
“Lastly, this rebalancing round included two key American players in the Controlled Environment Agriculture space, Local Bounti and AppHarvest.”
Please remember that the value of your investment may go down as well as up and past performance is no indication of future performance. When you trade ETFs, your capital is at risk.