Climate Solution Stocks

A. O. Smith

Lacked Sufficient Information

AO Smith sells water heaters, boilers, and water treatment products, but not water leak detection solutions, so they don√ït contribute to any climate solutions.

Solar, PVs

AAON

Passed Revenue Filter

AAON sells geothermal/water-source heat pumps a key technology for making buildings electrified and more energy efficient.

1.0173%

Retrofit

Acuity Brands

Pure Play

Acuity makes LED lights for commercial, architectural, and specialty applications. Acuity also makes building efficiency and building automation products.

0.9750%

ADS-TEC Energy PLC

Pure Play

ADS-TEC Energy is an EV infrastructure pure play. ADS-TEC Energy's ChargeBox is a fast charging solution for EVs with up to 320 KW charging power.

0.0796%

Advent Technologies Holdings

Failed Market Cap Filter

Advent sells components that improve the performance of hydrogen fuel cells for the aviation, automotive, and other markets.

Energy Storage

Aecom

Failed Revenue Filter

Aecom provides infrastructure consulting services for developing fuel cell, solar/wind infrastructure, and EV infrastructure, but these only account for 3% of its revenue.

Hybrid Cars

Aemetis

Failed Biofuel Filter

Aemetic makes ethanol from corn or biomass (it√ïs not clear which is more) and pipeline-quality renewable natural gas from dairy manure. Since most of its revenue comes from ethanol, which is not an advanced biofuel, it fails out biofuel filter.

Grid Expansion

Agrify

Failed Market Cap Filter

Agrify sells LED grow lights amongst other business activities, but don√ït provide a revenue breakdown, thus are excluded for lack of sufficient information.

Alternative Cement

Albemarle Corporation

Failed Mining Filter

Albemarle makes lithium compounds that promote energy storage. But 55% of its revenue comes from chemical products for the oil and gas industry, so it fails our revenue filter.

Critical Minerals

Algoma Steel Group Inc.

Failed Revenue Filter

Algoma is a steel manufacturer. While they are constructing 2 state-of-the-art electric arc furnaces to replace its existing blast furnace steelmaking operations, as of 2022, they are not yet operational.

Biomass

Algonquin Power & Utilities.

Failed Utility Filter

Algonquin is an energy utility whose revenue mostly comes from transmission and distribution. Most of the electricity they transmit, however, is not from clean sources, so it fails our utility filter.

Electrical Utility

Alico, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Aviation

Allegro Microsystems

Failed Revenue Filter

Allegro makes LED driver integrated circuits with LED lighting application, but 69% of its revenue comes from selling products to the internal combustion engine automotive market, so it fails the revenue filter.

Perennial Staple Crops

ALLETE

Failed Utility Filter

Allete is a holding company whose subsidiaries operate power plants. While one subsidiary owns wind farms, another √ê Minnesota Power √ê owns coal-fired units which it won√ït retire until 2035. It fails our coal filter.

Electrical Utility

Alliant Energy

Failed Utility Filter

Alliant is an electric utility company that produce 70% of its power from fossil fuels, including coal. It fails our utility and coal filter.

Electrical Utility

Allison Transmission Holdings, Inc.

Failed Defense Filter

Allison Transmissions sells electrified drivetrains for trucks, a key climate solution, but they also make multiple product lines such as defense vehicles for the military, meaning they fail our defense filter.

LED

Alternus Clean Energy Inc

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Altus Power, Inc.

Pure Play

Altus Power is a clean electricity generation pure play. Because all of its revenue comes from clean electricity, we include it in the Climate Index.

0.0722%

Ameren

Lacked Sufficient Information

Ameren is a power utility. It don√ït provide enough information about its sources of power generation. We exclude Ameren for lack of sufficient information.

Electrical Utility

Ameresco

Pure Play

Ameresco makes buildings more energy efficient, builds renewable power plants, sells solar PV products, and owns a wind power project.

0.1498%

American Battery Technology Company

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

American Electric Power

Failed Utility Filter

American Electric Power is a utility that produces 70% of its power from coal and natural gas, and the rest from clean sources. It fails our utility and coal filters.

Electrical Utility

American Lithium Corp.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Waste To Energy

Amprius Technologies, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

Amtech Systems

Failed Market Cap Filter

Amtech makes semiconductor equipment with a wide range of applications, including LEDs. But it√ïs not clear how much of its revenue comes from LED lighting. We exclude them for lack of sufficient information.

LED

Apogee Enterprises

Passed Revenue Filter

Apogee makes high-performance glass and related products that enhance the energy efficiency of buildings.

0.1597%

Aqua Metals

Failed Market Cap Filter

Aqua recycles lead that is primarily used in lead acid batteries, which promotes the circular economy

LED

Arcadia Biosciences, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Recycled Metals

Arcadium Lithium PLC

Pure Play

Arcadium Lithium (Formerly Livent) is a pure play that sells lithium compounds, primarily used in lithium batteries, a key component in EV's and battery storage of electricity.

Archer Aviation Inc.

Pure Play

Archer Aviation is an electric aviation pure play that is designing an electric aircraft for use in future urban air mobility networks and reduce the need for fossil-fuel powered air transport.

0.4983%

Atlantica Sustainable Infrastructure

Arcosa

Failed Revenue Filter

Arcosa builds structural wind towers in the US and Mexico, but they also sell a range of products to the fossil fuel industry. Since Arcosa don√ït provide a revenue breakdown between these segments, we exclude it for lack of sufficient information

Wind Power

Argan

Failed Revenue Filter

Argan√ïs subsidiary Gemma offers clean power generation but also fossil fuel-based power plant. Its gas-fired power plant is much bigger than its clean power generation.

Electric Cars

Array Technologies

Pure Play

Array sells solar tracking systems that use machine learning to identify the best positioning for a solar array to increase energy production.

0.1032%

Refrigerant Management

Ascent Solar Technologies, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

ASP Isotopes Inc.

Lacked Sufficient Information

ASP Isotopes refined uranium, but for a variety of uses including medical. Given their lack of breakdown, we not include them.

Insulation

Aspen Aerogels, Inc.

Lacked Sufficient Information

Aspen Aerogels make aerogel materials used in the energy infrastructure, building materials and EV markets. But its main end-markets are fossil fuel plants, thus failing the revenue filter.

Water Distribution

Atlantic Power

Failed Utility Filter

Atlantic produces 70% of its power from fossil fuels, so it fails our utility filter. In 2021, it was acquired by I Squared Capital.

Critical Minerals

Passed Revenue Filter

Stem helps buildings to switch from onsite, to stored, to grid electricity with an AI-powered platform.

0.2614%

Atlas Lithium Corporation

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Net-Zero Building

Atlas Technical Consultants

Failed Revenue Filter

Atlas Technical makes water leak detection and repair solutions, but it doesn√ït provide a revenue breakdown. It√ïs likely that these Climate solutions are less than 50% of its total revenue. We exclude them for lack of sufficient information.

Solar, PVs

ATRenew Inc.

Pure Play

ATRenew is a platform where pre-owned consumer electronics (mostly mobile phones) are bought and sold. This is a pure play that contributes to the climate solution of recycling.

0.0609%

AudioCodes

Pure Play

AudioCode sells software and productivity solutions for virtual work environments, enabling people to collaborate without the need of physical travel.

0.0315%

Austin Gold Corp.

Failed Mining Filter

Austin Gold Corp., a gold exploration company, focuses on the exploration of mineral property interests in Nevada. It is pre-revenue but since its focus is gold, a non-critical mineral, it is excluded

Critical Minerals

Avangrid

Failed Utility Filter

Avangrid is an energy utility that generates mostly renewable energy. However most of its revenue comes from tramission of eletricity with aproximately half of that being clean. In addition ~20% of its revenue from the sale of natural gas.

SmartGrid

Avista

Failed Utility Filter

Avista is an electric utility that produces most of its power from clean sources. But 13% of its power comes from coal with no plans for its retirement in the next 3 years. It fails our coal filter.

Electrical Utility

AXT

Failed Market Cap Filter

AXT makes semiconductor substrates used in LEDs, thermal imaging, and autonomous vehicles. They don√ït give a precise revenue breakdown, so we exclude them for lack of sufficient information.

LED

Ayro

Failed Market Cap Filter

Ayro is a pure play in EVs for last-mile delivery, which can access tight areas like university paths and business parks.

Electric Two Wheelers

Babcock & Wilcox Enterprises

Failed Revenue Filter

Babcock & Wilcox makes waste-to-energy and biomass solutions. It also offers carbon capture technologies but without storage, which we consider fossil fuel revenue. Its largest revenue source is products for the oil & gas sectors, failing our revenue filter.

Waste to Energy

Badger Meter

Passed Revenue Filter

Badger makes >50% of its revenue from selling water meters that can help water utilities detect leaks, an important climate solution.

0.6423%

Baijiayun Group Ltd

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Ballard Power Systems

Pure Play

Ballard sells proton exchange membrane fuel cells to transit but, rail, and critical infrastructure industries that can enable them to run without carbon emissions

0.0606%

Net-zero building

Beacon Roofing Supply

Failed Revenue Filter

Beacon sells and distributes insulation products, solar paneling, solar inverters and solar panels mounting hardware.

Electrical Utility

Beam Global

Failed Market Cap Filter

Beam Global sells EV charging solutions that use solar power and battery storage to power themselves.

Electric Cars

Benson Hill, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

Beyond Meat

Pure Play

Beyond Meat sells various plant-based meat products that reduce the demand for traditional animal-based meat.

0.0261%

Blink Charging

Failed Market Cap Filter

Blink operates a wide network of EV charging stations.

EV Infrastructure

Bloom Energy

Lacked Sufficient Information

Bloom Energy√ïs energy servers can operate on both hydrogen and biogas, but most of them use natural gas as its fuel. We consider this fossil fuel revenue.

Hybrid Cars

Blue Bird Corporation

Failed Revenue Filter

Blue Bird manufactures school buses. Although they are a leader in electric school buses, it still falls below 50% of their revenue.

Bioplastics

Borealis Foods Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

BorgWarner

Failed Revenue Filter

BorgWarner makes some solutions for EVs but makes a much larger portion of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Electric Cars

BranchOut Food Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Two Wheelers

Brenmiller Energy Ltd

Failed Market Cap Filter

Brenmiller makes heat battery based on natural crushed rocks, but were excluded because it has been on the market for less than 6 months

Ocean Power

Broadwind

Failed Market Cap Filter

Broadwind makes 70% of its revenue by selling steel towers and adapters to wind turbine manufacturers.

Telepresence

Brookfield Infrastructure Partners L.P.

Lacked Sufficient Information

Belden sells basic connectivity solutions for energy and telecom, but it doesn√ït make products designed to strengthen and expand the electrical grid. It therefore don√ït offer any climate solutions.

Electrical Utility

Brookfield Renewable

Pure Play

Brookfield is an yieldco that is focused on generating electricity from renewable energy assets. 100% of its revenue comes from generating renewable power.

0.5332%

BWX Technologies

Failed Defense Filter

BWX performs fabrication activities for missile launch tubes for US submarines, which fail our defense filter.

Smart Thermostat

Cameco

Pure Play

Cameco mines and sells uranium for the purposes of nuclear fuel production.

2.4411%

Canadian Solar

Pure Play

Canadian Solar sells solar ingots, wafers, cells, modules, panels and other solar power products as well as battery storage products.

0.0836%

Canoo

Failed Market Cap Filter

Canoo is a pure play that makes electric delivery and multi-purpose vehicles, including an electric skateboard.

Electric Cars

Carlisle Companies

Lacked Sufficient Information

Carlisle makes building products, including building envelope products and energy-efficiency solutions. But it also sells high-performance wire and cable, with in-flight connectivity applications for military aircrafts. It therefore fails our defense filter.

Electric Cars

Carrier Global

Passed Revenue Filter

Carrier sells HVAC products including high-efficiency heat pumps, a technology necessary for electrifying and energy retrofitting buildings.

5.0000%

Casella Waste Systems

Failed Landfill Filter

Casella is a waste management company that gets some of its revenue from recycling, a climate solution. But it also owns 9 landfill sites, and only 4 of them currently have gas-to-energy facilities. It therefore fails our landfill filter.

LED

CBAK Energy Technology

Failed Market Cap Filter

CBAK is a pure play that makes lithium batteries used in EVs, electric tools, and energy storage applications.

Biomass

Cenntro Electric Group Limited

Failed Market Cap Filter

Cenntro Electric is a EV pure play that makes light- and medium-duty electric commercial vehicles.

Mass Transit

CenterPoint Energy

Failed Utility Filter

CenterPoint is an electric utility that produces most of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Centrais Elétricas Brasileiras - Eletrobrás

Failed Utility Filter

EBR is an electric utility that produces 85.3% of its power from clean sources. But it also produces some of its power from coal and it has no plans to shut down its coal plants within the next 3 years, failing our coal filter.

Electrical Utility

Central Puerto

Failed Utility Filter

Central Puerto produces 61.5% of its power from fossil fuels (gas) and the rest from renewables (hydro and wind). It, therefore don√ït pass our utility filter.

Electrical Utility

Centrus Energy

Pure Play

Centrus sells various components of nuclear fuel and provides technical services to deploy advanced nuclear fuel production capabilities.

0.1369%

ChargePoint Holdings

Pure Play

ChargePoint sells EV charging solutions like smart charging stations, which can be used by fleets or individual owners.

0.0543%

Chijet Motor Company, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Two Wheelers

China Recycling Energy

Failed Revenue Filter

China Recycling Energy conducts waste-to-energy operations, but uses gas from coal mining, oil exploitation, refining processing and other fossil fuels as a fuel source. It therefore fails our revenue filter.

Water Distribution

Cisco

Failed Telepresence Filter

Cisco is a technology conglomerate that sells hardware, software and other high-tech services and products. They offer telepresence solutions, but it makes up less than 50% of its revenue, so we exclude them.

Telepresence

Clean Energy Fuels Corp.

Passed Revenue Filter

Clean Energy Group generates almost all of its revenue from the collection, refinement, and sale of renewable natural gas into a drop-in replacement for diesel fuels. This is one of the only transition fuels available to reduce emissions in heavy trucking and is a critical transitional technology.

0.0688%

Clean Energy Technologies, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Clean Harbors Inc

Failed Landfill Filter

Clean Harbors provides environmental and industrial services, including hazardous waste management and recycling. It owns 7 landfills but none have methane capture systems, so it fails the landfill filter.

Critical Minerals

CleanSpark

Failed Revenue Filter

CleanSpark sells distributed energy systems and microgirds, but the vast majority of its revenue comes from bitcoin mining which is not a Climate solution. It fails our revenue filter.

Methane Capture

ClearOne

Failed Market Cap Filter

ClearOne sells audio conferencing products and sound-reinforcement products that improve virtual connections and enable people to more easily collaborate without physical travel.

Solar, PVs

Clearway Energy

Passed Revenue Filter

Clearway Energy is an yieldco that's purely focused on generating clean electricity. 99.5% of the electricity it generates comes from renewables.

0.5305%

CMS Energy

Failed Utility Filter

CMS is an electric utility that produces 79.2% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

CN Energy Group

Failed Market Cap Filter

CN Energy Group makes biomass electricity from wood. Due to its high emissions, Carbon Collective does not consider biomass electricity a Climate Solution and therefore exclude it.

Solar, PVs

Comfort Systems USA

Lacked Sufficient Information

Comfort Systems makes 84.5% of its revenue from replacing old HVAC systems with more efficient ones.

Fuel Cells

Commercial Metals

Passed Revenue Filter

Commercial Metals manufactures steel and metal products, 98% of which is from recycled scrap metal, helping make steel a circular industry

0.5881%

Complete Solaria, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Comstock Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Waste To Energy

ConnectM Technology Solutions, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

EV Infrastructure

Consolidated Edison

Failed Utility Filter

51.8% of the electricity Con Ed generates and just about half of the electricity they transmit is clean, meaning they fall well below the 100% threshold.

Electrical Utility

Constellation Energy Corporation

Failed Utility Filter

Constellation Energy is the largest owner of nuclear power plants in the US. While we generally do not consider utilities to be climate solutions, Constellation is engaged in developing new nuclear plants. But this does not constitute a majority of their revenue, so we do not yet include them.

Electrical Utility

Contango Ore, Inc.

Failed Mining Filter

Contango Ore, Inc., a gold exploration company, focuses on the exploration of mineral property interests in Alaska. It is pre-revenue but since it focus is gold, a non-critical mineral, it is excluded

Critical Minerals

Core & Main, Inc

Failed Revenue Filter

Core & Main sells smart meters and advanced metering technology that help reduce water loss through leak detection. But these account for only 8% of its revenue, so it fails the revenue filter.

Recycled Metals

Corning

No Drawdown Solution

Corning makes LED display products and emissions control products for the automotive industry, but not LED lighting, leaving it without a climate solution.

Telepresence

CRH

Lacked Sufficient Information

CRH makes building materials, including high-performance glass, a climate solution. But most of its revenue comes from conventional cement, concrete and asphalt.

Heat Pumps

Critical Metals Corp.

Passed Mining Filter

Critical Metals Corp is a pure play lithium mining company. Lithium is a key component for lithium ion batteries.

0.0614%

Crown ElectroKinetics

Failed Market Cap Filter

Crown makes dynamic glass that changes its opacity and reflectiveness in response to outside conditions. Dynamic glass enhances the energy efficiency of buildings.

Fuel Cells

CSW Industrials

Failed Revenue Filter

CSW makes 69% of its revenue from products that make heating and cooling systems more efficient.

Microgrid

Cummins

Failed Revenue Filter

Cummins makes hydrogen production solutions, but 71% of its revenue comes from selling parts for internal combustion engine vehicles, and the oil and gas markets, so it fails our revenue filter.

Electric Cars

CVD Equipment

Failed Defense Filter

CVD is a specialty industrial machinery company. It offers MesoPlasma printing services and products to the defense industry, failing our defense filter.

LED

Dana Corporation

Lacked Sufficient Information

Dana sells both EV and internal combustion engine vehicle parts, but we exclude them because a revenue breakdown between those two segments is not provided.

Electric Cars

Daqo New Energy

Pure Play

Daqo core business is selling high-purity polysilicon used in solar PVs to PV manufacturers.

0.1408%

Denison Mines Corp

Pure Play

Gingko uses genetic engineering to product bacteria with industrial applications. It works in the food and agricultural markets, but don√ït offer Climate solutions.

0.2731%

Digi International

Failed Telepresence Filter

Digi International sells embedded and external network communications as well as USB products. They are not a telepresence pure play, so they√ïre excluded from the Index.

Telepresence

Diodes

Failed Revenue Filter

Diodes sells discrete semiconductor products with consumer electronics industry applications. But it makes only small revenue from LED lighting applications, so it fails our revenue filter.

Insulation

DocuSign

Pure Play

DocuSign provides an e-signature solution that allows for digital signing of agreements and documents, saving both paper and emissions from transportation

1.8844%

Dominion Energy

Failed Utility Filter

Dominion is an electric utility that generates about half of its power from fossil fuels, including coal. With no plans to retire its coal plants, it fails our coal filter.

Electrical Utility

Dow

Lacked Sufficient Information

Dow makes both traditional and bioplastics. We exclude it for lacking sufficient information that would help us determine which is a larger source of revenue.

Efficient Irrigation

Dragonfly Energy Holdings Corp.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Waste To Energy

DTE Energy

Failed Utility Filter

DTE is an electric utility that produces 70.4% of its power from fossil fuels, failing our utility filter.

Electrical Utility

Duke Energy

Failed Utility Filter

Duke Energy is an electric utility that produces 74% of its power from fossil fuels, failing our utility filter.

Electrical Utility

DuPont de Nemours

Lacked Sufficient Information

DuPont is a chemicals company. It sells products with solar energy and LEDs applications, but also to the defense and oil and gas industries. It doesn√ït provide a revenue breakdown between these end-markets, so we exclude it for lacking sufficient information.

Water Distribution

Eaton

Failed Defense Filter

Eaton makes 62% of its revenue by improving grid flexibility by selling various electrical and power products.

Biofuels

Eco Wave Power

Failed Market Cap Filter

Eco Wave is a pure play that makes technology that converts ocean and sea waves into clean electricity.

Solar, Concentrated

Ecolab

Lacked Sufficient Information

Ecolab offers products to help businesses conserve water, but it also provides products and programs designed for oil companies. Since it doesn√ït give a revenue breakdown between these end-markets, we exclude it for lacking sufficient information.

Bioplastics

Edison International

Lacked Sufficient Information

Edison International is an electric utility but it doesn√ït give enough information about its power generation sources.

Electrical Utility

EHang Holdings Limited

Lacked Sufficient Information

EHang provide electric short range flights. However they also provide aerial surveillance and advertising/entertainment. It is not clear how much revenue comes from each branch

Critical Minerals

Electra Battery Materials Corporation

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Electrovaya Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Ellomay Capital

Failed Utility Filter

Ellomay is an electric utility that produces 62.9% of its power from gas and diesel oil, failing our utility filter.

Electrical Utility

eMagin

Failed Defense Filter

eMagin sells night vision/thermal imaging goggles to customers in the military, failing our defense filter.

Critical Minerals

Emeren Group Ltd.

Failed Market Cap Filter

ReneSola constructs solar projects and sells project rights.

Solar, PVs

Emerson Electric

Failed Revenue Filter

Emerson makes smart thermostats, which are a climate solution. But it also makes a larger proportion of revenue from products and services for the oil and gas industries.

Water Distribution

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Lacked Sufficient Information

EDN is an electric utility but it doesn√ït provide complete enough information about its power generation sources.

Energy Storage

Enbridge

Failed Revenue Filter

Enbridge is an energy infrastructure company that gets some of its revenue from solar and wind energy. But most of its revenue comes from building gas and oil pipelines, and gas infrastructure. It fails our revenue filter.

Water Distribution

enCore Energy Corp.

Pure Play

enCore Energy is a US-based miner and refiner of uranium, the key component for nuclear power which is one of the few 24/7 providers of zero-carbon electricity.

0.1006%

Electric Two Wheelers

Enel Chile

Failed Utility Filter

Enel Chile is a Chilean electric utility. 65.9% of the electricity it generates is from clean sources, but they don't disclose how much of the power they transmit is from clean generation. We exclude them for lacking sufficient information.

Electrical Utility

Energy Focus

Failed Market Cap Filter

Energy Focus makes a variety of LED lighting products that emit the same light for less electricity.

LED

Energy Fuels Inc.

Passed Mining Filter

Energy Fuels generates a majority of its revenue from the mining and processing of uranium, vanadium, and rare earth metals, all of which are needed to decarbonize our economy.

0.1676%

Energy Vault Holdings, Inc.

Pure Play

Energy Vault is an energy storage pure play that makes gravity-based, grid-scale energy storage solutions.

0.0384%

Carbon Management

EnerSys

Failed Defense Filter

EnerSys is an electrical equipment company. It sells specialty batteries with aerospace ad defense applications, missiles and smart weapons, so it fails our defense filter.

Grid Expansion

Enlight Renewable Energy Ltd

Pure Play

Enlight Renewable is a renewable energy developer of wind and solar projects.

0.7680%

Enovix Corporation

Lacked Sufficient Information

Enovix is a battery maker but they make batteries for many applications including non-climate solutions like smart phones and laptops. They do not disclose the revenue breakdown from each, so we exclude them.

Electric Aviation

Enphase Energy

Pure Play

Enphase sells microinverters, energy monitoring software, and AC batteries to solar distributors.

0.9868%

Entergy

Failed Utility Filter

Entergy is an electric utility that produces 78% of its power from fossil fuels, including coal with no plans to retire its coal plants. It fails our utility and coal filters.

Electrical Utility

Enviri Corporation

Passed Revenue Filter

Enviri Corporation (formerly Harsco) generates a majority of its revenue from industrial and metal recycling, both important climate solutions that reduce demand for virgin materials to be extracted from the earth

0.0683%

Envirotech Vehicles, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Food Waste

Eos Energy Enterprises

Pure Play

Eos is a pure play that makes energy storage solutions to utilities and other customers.

0.1231%

Erayak Power Solution Group Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Perennial Staple Crops

Ero Copper Corp.

Passed Mining Filter

Ero Copper owns three copper mines in Brazil. Copper is a critical mineral for the buildout of a zero carbon electrical future as it is used both in electric motors and expanding the grid. It is also infinitely recyclable.

0.2167%

ESCO Technologies

Failed Defense & Revenue Filter

ESCO is a technology company that makes products that promote grid flexibility, a climate solution. But it also sells many products used with aerospace and defense applications. It therefore fails out defense filter.

Water Distribution

ESGL Holdings Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

ESS Tech, Inc.

Failed Market Cap Filter

ESS is a pure play in long-duration energy storage that makes iron flow battery technology.

Electric Cars

Euro Tech Holdings

No Drawdown Solution

Euro Tech makes water treatment equipment and other products. But they don√ït offer any climate solutions.

Telepresence

Eve Holding, Inc.

Pure Play

Eve Holdings is developing an electric helicopter so people can move more quickly around urban settings without fossil fuels.

0.1794%

Evergy

Failed Utility Filter

Evergy is an electric utility that produces 64% of its power from fossil fuels, including coal, with no plans to retire its coal plants. It fails our utility and coal filters.

Electrical Utility

Eversource Energy

Failed Utility Filter

Most of Eversource's revenue comes from electric, gas and water distribution, which are not climate solutions.

Electrical Utility

EVgo

Pure Play

EVgo is a EV infrastructure pure play that owns and operates the largest public fast EV charging network in the US. The network is 100% powered by renewable electricity through the use of renewable energy certificates.

0.1348%

Evoqua Water Technologies

No Drawdown Solution

Evoqua offer technologies mostly focused on removing impurities from water. It doesn't make any leak detection technologies, so it fails our water distribution efficiency filter.

Biofuels

Exelon

Failed Utility Filter

Exelon is an energy utility. 75.8% of the electricity it generates comes from clean sources, but only about 40% of the electricity they transmit and distribute is clean, leading them to fail our utility filter.

Electrical Utility

Expion360 Inc.

Failed Market Cap Filter

Expansion360 sells lithium-ion batteries for RVs, golf carts and marine vehicles. Because these are not replacing previously fossil-fuel powered engines, they don√ït count as climate solutions.

Grid Expansion

EZGO Technologies

Failed Market Cap Filter

EZ is a pure play that makes e-bicycles, e-tricycles, and lithium batteries for the Chinese market.

Dynamic Glass

Faraday Future Intelligent Electric Inc.

Failed Market Cap Filter

Faraday is a pure play that intends to start building electric cars.

Electric Cars

First Solar

Pure Play

First Solar sells solar modules and power plant solutions.

2.0953%

FirstEnergy

Failed Utility Filter

FirstEnergy is an electric utility that produces 86.6% of its power from coal and doesn√ït plan to retire its coal plants fully until 2050. It fails our utility and coal filters.

Electrical Utility

Flexible Solutions International

Failed Market Cap Filter

Flexible Solutions makes nitrogen conservation products, a climate solution, but also produces products for the oil and gas industries. It doesn't give a revenue breakdown, so we exclude it for lack of sufficient information.

Electric Cars

Fluence Energy Inc

Pure Play

Fluence is a pure play that provide energy storage products & services, and AI-enabled digital applications for renewables and storage.

0.3223%

Flux Power Holdings

Failed Market Cap Filter

Flux makes battery management systems and rechargeable lithium-ion energy storage systems for electric forklifts, airport ground support equipment, and other industrial motive applications.

Energy Storage

Fly-E Group, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Food Waste

Ford Motor

Failed Revenue Filter

Ford Motors makes EVs but makes most of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Electric Cars

Foremost Clean Energy Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Food Waste

Fortis

Failed Utility Filter

Fortis is an electric utility that makes a vast majority of its power from coal and natural gas. It fails both our utility and coal filters.

Electrical Utility

Forza X1, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Boats

Franklin Electric

No Drawdown Solution

Franklin Electric makes industrial machinery like water pumping systems, groundwater equipment, submersible motors, etc. But they don√ït make leak detection or water conservation technologies, so they don√ït offer any climate solutions.

Water Distribution

Freeport-McMoRan Inc.

Failed Ethical Filter

While FCX generated over >87% of its revenue from the sale of copper and molybdenum (both needed for the energy transition), it has had credible human rights allegations brought against it for violently suppressing indigenous communities and causing significant environmental pollution (The "Toxic 100 Air Polluters Index" compiled by the Political Economy Research Institute at UMass Amherst ranks FCX as #20). Therefore we exclude it.

Critical Minerals

Freight Technologies Inc

Failed Market Cap Filter

Freight Technologies is a pure play in efficient shipping that produced the FR8App. The FR8App is a B2B marketplace to make cross-border freight efficient and transparent, thus reduces the carbon footprint from shipping by optimizing empty miles.

Electric Cars

FREYR Battery

Failed Market Cap Filter

FREYR Battery is working to develop the most cost-competitive batteries with the lowest carbon footprints. It has not generated any reveue as of July 2022

Energy Storage

FTC Solar

Failed Market Cap Filter

FTC Solar sells solar tracking systems that identifies the best positioning for a solar array to increase energy production.

Industrial Recycling

FuelCell Energy

Failed Market Cap Filter

FuelCell Energy makes hydrogen fuel cells. But it√ïs also developing carbon capture services but not storage, which we consider fossil fuel revenue. We exclude it for lack of sufficient information about the breakdown between these two revenue sources.

Energy Storage

Fusion Fuel Green

Failed Market Cap Filter

Fusion Fuel Green makes green hydrogen an important climate solution

Fuel Cells

FutureFuel

Passed Revenue Filter

Future Fuels makes 79% of revenue from biofuels made mostly from cooking oils, other plant oils and animal fats. FF predominantly offers "Advnaced Biofuels" and thus pass our biofuel filters.

0.0240%

Gatos Silver, Inc.

Failed Mining Filter

GATO operates numerous underground mines in Mexico generating a majority of its revenue from: silver, lead, and zinc, all critical minerals for the energy transition.

Plant-based diet

GE Vernova Inc.

Pure Play

GE Vernova is the renewable energy spinout from GE for what is primarily their wind energy business.

5.0000%

Generac Holdings

Lacked Sufficient Information

Generac makes power generation equipment and energy storage systems. It seems that most of its generators are fueled by fossil fuels. Since they don't give a breakdown of fossil fuel vs. clean products, we exclude them for lack of sufficient information.

Water Distribution

General Electric

Failed Defense Filter

General Electric derives a small portion of revenue from wind energy. But a larger portion of revenue comes from oil and gas industries, and they also make jet engines for military aircrafts. It fails both the defense and revenue filters.

Critical Minerals

General Motors

Failed Revenue Filter

General Motors makes some EVs but makes most of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Plant-Based Diet

Genie Energy

Failed Utility Filter

Genie Energy is an electric utility. It√ïs not clear what the source of its electric generation is, so we exclude it for lack of sufficient information.

Electrical Utility

Genuine Parts

Failed Revenue Filter

Genuine Parts sells auto parts. It seems to get some revenue from the EV industry, but most of its business is with the internal combustion vehicle market. It fails our revenue filter.

Fuel Cells

Gevo

Pure Play

Gevo makes renewable fuels. 75% of its revenue came from ethanol and other conventional biofuels. To pass our biofuel filter, a company needs to make most of its revenue from advanced biofuel. Gevo fails this filter.

0.0664%

GFL Environmental

Passed Landfill Filter

CSW makes 69% of its revenue from products that make heating and cooling systems more efficient.

2.5395%

GrafTech International Ltd.

Gibraltar Industries

Failed Revenue Filter

Gibraltar Industries makes solar racking and electrical balance of systems, but these only account for 32% of its total revenue. It fails our revenue filter.

Heat Pumps

Ginkgo Bioworks Holdings

Failed Revenue Filter

Waste Management has methane capture systems at 144 out of 260 landfill in operations. Since it has methane capture systems at more than 50% of its landfill sites, Waste Management passes our landfill filter.

Water Distribution

GMS Inc.

No Drawdown Solution

GMS sells products for construction, including insulation, lumber, joint compound, fasteners, etc. It fails the revenue filter because the revenue from insulation was only 28.7%.

LED

Gogoro Inc.

Failed Market Cap Filter

Gogoro is an EV pure play that makes smart, swappable electric fuel and intelligent light urban vehicles.

Energy Storage

Gold Resource Corporation

Failed Market Cap Filter

Gold Resource Corporation engages in the exploration, development, and production of mining projects in Mexico and the United States. About 73% of its 2021 revenue came from silver, copper, lead and zinc, all minerals the IEA considers essential for the energy transition.

Electric Two Wheelers

Golden Minerals Company

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

Pure Play

GrafTech is a pure play in arc smelting. It produces graphite electrodes and petroleum needle coke, both necessary components in electric arc furnaces, which is a more energy efficient way of making steel compared to blast furnaces.

0.0460%

Hybrid Cars

Graham

Failed Defense & Revenue Filter

Graham is an industrial machinery company. 52% of its revenue came from the defense industry, and 44% from the refining, chemical and petrochemical markets. It therefore fails our defense and revenue filters.

Grid Expansion

Granite Construction

No Drawdown Solution

Granite Construction is an infrastructure company. It doesn√ït make any water leak detection or water conservation technology, leaving it without a climate solution.

Water Distribution

Graphex Group Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Two Wheelers

Green Plains

Failed Biofuel Filter

Green Plains is one of the largest manufacturers of ethanol from corn. It fails our biofuel filter, which requires that advanced biofuels make up more than 50% of a company's biofuel production.

Heat Pumps

Greenland Technologies Holding Corporation

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Greenwave Technology Solutions, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Food Waste

Hannon Armstrong Sustainable Infrastructure Capital

Pure Play

Hannon Armstrong is an yieldco that's purely focused on generating clean electricity. 100% of the electricity it generates comes from renewables.

0.3326%

Hawaiian Electric Industries

Failed Utility Filter

Hawaiian Electric is an electric utility that produce ~99% of its power from fossil fuels. It fails our utility filter.

Electrical Utility

Heliogen, Inc.

Failed Market Cap Filter

Heliogen is an electric utility that's purely focused on generating electricity. 100% of the electricity it generates comes from renewables.

Nutrient Management

Helios Technologies

No Drawdown Solution

Helios Technologies makes a variety of hydraulic products but not leak detection or water conservation technologies.

Water Distribution

Heramba Electric plc

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Mass Transit

Honda Motor

Lacked Sufficient Information

Honda makes some EVs (in Europe) but its EV manufacturing is still in early stages. No precise revenue breakdown is given but it√ïs clear that most of its revenue comes from internal combustion vehicles.

Net-zero building

Honeywell International

Failed Defense Filter

Honeywell is a technology company with an aerospace segment, which we categorize as fossil fuel revenue. It also sells products to the defense industry. It fails our revenue and defense filters.

Wind Power

Hubbell

Passed Revenue Filter

Hubbel sells solutions that enhance grid expansion/flexibility and EV charging, which are climate solutions, but it also has customers in the gas industry. We exclude it for lacking sufficient information.

2.4194%

Biofuels

Hudson Technologies

Pure Play

Hudson makes various refrigerant management solutions an important climate solution.

0.0280%

Hycroft Mining Holding Corporation

Failed Mining Filter

Hycroft Mining together with its subsidiaries, operates as a gold and silver development company in the United States. As of December 31, 2022. About 90.1% of its 2021 revenue came from gold sales, so it fails the 50% revenue filter.

Critical Minerals

Hyliion Holdings

Pure Play

Hyliion makes electrified and hybrid powertrain solutions. Its solutions contribute to the climate solutions of hybrid and electric vehicles.

0.0462%

Installed Building Products

Hyzon Motors Inc.

Failed Market Cap Filter

Hyzon is a pure play that makes and services hydrogen fuel cell electric vehicles.

Energy Storage

IBM

Failed Telepresence Filter

IBM sells computer hardware, middleware and software. Some of its products contribute to telepresence, but since IBM is not a telepresence pure play, it fails our revenue filter.

Telepresence

ICF International, Inc.

Failed Revenue Filter

ICF is a consulting company. But revenue from energy, environment and infrastructure accounts for a minority of its revenue, so they fail the revenue filter.

Electric Cars

Ideal Power Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Ideanomics

Failed Market Cap Filter

Ideanomics makes 73% of its revenue from EVs and EV charging infrastructure.

EV Infrastructure

IES Holdings

Failed Revenue Filter

IES services wind and solar energy projects, which promote these climate solutions. But it also services refineries. It√ïs not clear which makes up a bigger portion of its revenue, so we exclude it for lacking sufficient information.

Grid Expansion

Ingredion INC

Failed Plant-Based Diet Filter

Ingredion converts plants into value-added ingredients and biomaterials for food industries. But since its products don√ït replace animal-based foods, it fails our plant-based diet filter.

Arc Smelting

Passed Revenue Filter

Installed Building Products sells and installs insulation for residential and commercial builders, an important climate solution to make buildings more energy efficient.

0.5045%

ioneer Ltd

Passed Mining Filter

IONR is a pure-play lithium mining company based in Nevada that has offtakes contracts in place with several major electric vehicle and battery manufacturers.

0.0398%

IperionX Limited

Passed Revenue Filter

IPX operates an open-pit mine in Tennessee. 100% of its revenue comes from the sale of titanium, a critical mineral for the energy transition according to the IEA.

0.1111%

Itron

Passed Revenue Filter

Itron makes 61% of its revenue from devices that measure and control water, smart meters and leak detection products, all climate solutions.

0.5030%

JinkoSolar

Pure Play

Jinko sells solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots, and constructs solar projects.

0.1583%

Jiuzi Holdings

Failed Market Cap Filter

Jiuzi is a pure play that makes EVs in China.

Electric Cars

Joby Aviation, Inc.

Pure Play

Joby is a pure play in electric aviation that√ïs making an all-electric aircraft that can carry a pilot and 4 passengers, replacing the need for fossil fuel powered short haul flights.

0.7696%

Johnson Controls International

Passed Revenue Filter

Johnson Controls makes HVAC solutions including high-efficiency heat pumps, and build net-zero building systems. These products and services account for 72% of its revenue.

5.0000%

Kaltura

Failed Market Cap Filter

Kaltura offers video products that are heavily used in distance learning for virtual classrooms, thus reducing the need for students to physically travel to and from class.

Telepresence

Kandi Technologies Group

Failed Market Cap Filter

Kandi made 61% of its revenue from EV parts and electric scooters.

Energy Storage

Karat Packaging

Failed Revenue Filter

Karat Packaging makes packaging with both traditional and bioplastics. It√ïs not clear which makes up a bigger portion of its revenue, so we exclude it for lacking sufficient information.

Grid Expansion

Kenon Holdings

Failed Utility Filter

Kenon is an electric utility that produces most of its power from gas and oil. It fails our utility filter.

Electrical Utility

Korea Electric Power

Failed Utility Filter

Korea Electric Power is the largest power producer in Korea with large nuclear and hydro plants, but coal is its largest source of generation. It fails our utility and coal filters.

Electrical Utility

KULR Technology Group

Failed Market Cap Filter

KULR is a pure play that makes thermal management technologies used in lithium-ion batteries to ensure that the batteries stay within safe operating temperatures.

Electric Cars

L.B. Foster Company

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Laird Superfood

Failed Market Cap Filter

Laird sells plant-based foods like hydrate coconut water and renew plant-based proteins.

Nuclear Power

LanzaTech Global, Inc.

Pure Play

LanzaTech is an American company that finds commercial uses for waste carbon dioxide as a form of carbon sequestration.

0.0391%

Largo Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

Lear

Failed Revenue Filter

Lear makes some electrification products, but 94% of its revenue comes from supplying products for traditional automotive. It therefore fails our revenue filter.

Hybrid Cars

Lennox International

Passed Revenue Filter

Lennox sells HVAC systems including high-efficiency heat pumps.

2.2234%

Li Auto

Pure Play

Li Auto builds electric SUVs and luxury vehicles in China.

2.5897%

Li-Cycle Holdings Corp

Failed Market Cap Filter

Li-Cycle is a pure play in recycling that recycles lithium-ion batteries.

Nuclear Power

Lifezone Metals Limited

Lacked Sufficient Information

According to their 20f, Lifezone "do not expect to generate any revenue from our mining projects in the foreseeable future." so we exclude them

Recycled Metals

Lightbridge Corporation

Failed Market Cap Filter

Lighbridge focuses on the development of metallic nuclear fuels, which are safer and more economical, while effectively reducing carbon emissions.

Industrial Recycling

Lilium N.V.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Recycling

Limbach Holdings

Lacked Sufficient Information

Limbach provides a number of climate solutions, including energy audits and building retrofits, but they don√ït provide a revenue breakdown. We exclude them for lack of sufficient information.

Retrofit

Limoneira

Failed Revenue Filter

Limoneira grows a number of crops, including avocados, a perennial staple crop that√ïs a climate solution. But since avocados only account for 4% of its total revenue, it fails our revenue filter.

Solar, PVs

Lindsay

Lacked Sufficient Information

Lindsay sells irrigation systems, remote monitoring and automation technology that reduce water and energy consumption. But because a clear revenue breakdown between these solutions isn√ït given, we exclude it for lacking sufficient information.

Electric Cars

Liquidity Services, Inc.

Pure Play

Liquidity Services helps businesses and governments avoid sending their surpluses to the landfill and instead find willing buyers, helping them generate more revenue and reduce the demand for new products in the market.

0.1026%

Lithium Americas (Argentina) Corp.

Passed Mining Filter

Lithium Americas is a pure play lithium miner. Lithium is a key resource for lithium ion batteries, a critical climate solution

0.0566%

Lithium Americas Corp

Passed Mining Filter

LAC is a pure-play lithium mining company focused on extracting and refining battery-grade lithium.

0.0566%

Littelfuse

Lacked Sufficient Information

Littelfuse is an industrial technology company offering several climate solutions. But it also serves several fossil fuel industries. It√ïs not clear which makes up a bigger portion of its revenue.

LED

Livewire

Pure Play

Livewire is an electric motorcycle company that was spun off from Harley Davidson.

0.1007%

LKQ

Pure Play

LKQ scraps totaled cars and sells the reclaimed replacement parts, helping reduce automotive waste.

0.9778%

Lobo EV Technologies Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Aviation

Loop Industries

Failed Market Cap Filter

Loop converts waste plastics into virgin quality plastic.

Industrial Recycling

Lotus Technology Inc.

Pure Play

Lotus is a Chinese EV manufacturer that focuses on lifestyle vehicles in the fast-growing Chinese EV market.

0.2654%

LSI Industries

Passed Revenue Filter

LSI makes 67% of its revenue from LEDs for lighting used in parking garages and restaurants.

0.0598%

Lucid Group, Inc.

Pure Play

Lucid is a pure play that makes electric cars and battery systems.

1.0262%

Magnachip Semiconductor

Failed Revenue Filter

Magnachip makes LEDs for a variety of applications, including e-bikes, solar PV converters, and lighting. But these applications seems to make up a minority of its total revenue, so it fails our revenue filter.

LED

MasTec

Failed Revenue Filter

MasTech promotes wind and solar energy as well as grid flexibility. But since these climate solutions make up less than 50% of total revenue, it fails our revenue filter.

Grid Expansion

Maxeon Solar Technologies

Failed Market Cap Filter

Maxeon sells solar panels and other related components.

Solar, PVs

MDU Resources Group

Failed Utility Filter

MDU produces 72.7% of its power from fossil fuels (coal, gas and diesel) and 27.3% from renewables (wind and heat recovery). They retired 3 coal-fired units in February 2019, but have no plans to retire any more coal plants in the future. Thus it fails our Green Utilities filter.

Electrical Utility

Mesabi Trust

Failed Mining Filter

Anderson refines corn into ethanol, which is a Climate solution, but it’s a very small part of its revenue. It fails the revenue filter.

Critical Minerals

Metallus Inc

Pure Play

Timken Steel makes special bar quality bars from nearly 100% recycled scrap metal. But they also make components for the military, including missile components, projectiles, gun barrels, and vehicle driveline components. So they fail our defense filter.

0.0608%

Metals Acquisition Limited

Passed Mining Filter

MTAL is a mining company that generates over 96% of its revenue from copper, a key mineral in the energy transition that is also infinitely recyclable.

0.0747%

MGE Energy

Failed Utility Filter

MGE produces 76.2% of its energy from fossil fuels and 23.8% from renewables (wind and solar), thus failing our defense filter

Electrical Utility

Microvast Holdings Inc

Failed Market Cap Filter

Microvast is a pure play that designs and manufactures EV battery and energy storage with ultra-fast charging capabilities.

Energy Storage

Montauk Renewables

Pure Play

Montauk is an electric utility that's purely focused on generating electricity. 100% of the electricity it generates comes from biogas, which is a renewable source.

0.0651%

Geothermal

Montrose Environmental Group

Failed Revenue Filter

Montrose helps clients deal with water distribution issues among other pro-climate projects, but it also works with many O&G companies, petrochemical and tobacco industries. It is unclear what makes up a majority of its revenue.

Telepresence

MP Materials Corp.

Passed Mining Filter

MP is mining company focused on rare earth extraction and processing in the Western Hemisphere. Rare earth elements are critical minerals for the energy transition.

0.3417%

Mueller Industries

No Drawdown Solution

Mueller Industries produces a broad range of copper, brass, aluminum and plastic products. These include a variety of water tubes for plumbing applications. But they don't produce any leak detection or water conservation technologies and therefore fails our water distribution efficiency filter.

Water Distribution

Mueller Water Products

Failed Revenue Filter

Mueller Water Products sells water leak detection systems but these make up a small portion of its overall revenue. It fails our revenue filter.

Mass Transit

Mullen Automotive, Inc.

Failed Market Cap Filter

Mullen is a pure play EVs manufacturer with both personal and comercial products in development.

Electric Cars

MYR Group

Passed Revenue Filter

MYRG offers a wide range of products to the electric utility industry, but it doesn√ït give a precise breakdown between these products. We exclude it for lacking sufficient information.

0.2461%

N2OFF, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

EV Supply Chain

NaaS Technology Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Recycling

NACCO Industries, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Mass Transit

NANO Nuclear Energy Inc.

Pure Play

Nano Nuclear Energy is developing nuclear micro-reactors that, once commercially available, could enable the expansion of nuclear energy in a far more repeatable, easy to scale way than how traditional nuclear plants are built today.

0.1219%

National Grid

Lacked Sufficient Information

NGG is a utility that owns electric transmission facilities and gas pipelines in the UK and the US. It√ïs not clear which makes up a bigger portion of its revenue, and we also don√ït know how it generates its electricity.

Electrical Utility

NeoVolta Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Carbon Management

Newmont Corporation

Failed Mining Filter

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. 86% of its 2021 revenue came from gold sales, it therefore fail the 50% revenue filter.

Critical Minerals

NexGen Energy

Pure Play

NexGen explores and develops uranium projects in Canada.

0.6188%

NextEra Energy Partners, LP

NextEra Energy

Failed Utility Filter

NextEra Energy is an electric utility. The fail our Green Utilities filter because only 22%-23% of the electricity they transmit on its power lines comes from clean sources (must be >50%).

Electrical Utility

Pure Play

NextEra Energy Partners is an yieldco that generates 73% of its total revenue from electricity generation. 90% of the electricity it generates comes from renewable sources.

0.1792%

Nextracker Inc.

Pure Play

NextTracker is a pure play solar tracking company that enables solar farms to automatically follow the arc of the sun for optimal performance.

0.5904%

Nikola

Failed Market Cap Filter

Nikola is an electric car pure play that makes electric and hydrogen fuel cell heavy-duty commercial vehicles as well as clean energy solutions.

Critical Minerals

NIO

Pure Play

NIIO builds electric SUVs and sedans in China with a subscription service for swappable batteries instead of conventional charching.

1.0059%

NiSource

Failed Utility Filter

NiSource is an electric utility that generates 82% of its power from fossil fuels, including coal which they plan to replace with renewables by 2028. It√ïs also building large-scale renewable power projects, so we will consider it for inclusion in the future.

Electrical Utility

Niu Technologies

Failed Market Cap Filter

Niu is a pure play that makes electric scooters. It has over 800,000 active riders.

Electric Two Wheelers

noco-noco Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

NorthWestern

Failed Utility Filter

Northwestern is an electric utility that produces 46% of its power from renewables and the rest from fossil fuels including coal. It fails our utility and coal filters.

Electrical Utility

Nouveau Monde Graphite Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Telepresence

Nova Minerals Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

District Heating

Novonix Limited

Pure Play

Novonix is an Australian company that makes a range of advanced battery materials for the EV and energy storage battery industries

0.0430%

Arc Smelting

NRG Energy

Failed Utility Filter

NRG is an electric utility that generates 92% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Nucor Corporation

Passed Revenue Filter

Nucor is a steel maker that uses scrap steel as primary raw material, and it produces steel using the more efficient electric arc furnaces. 92.9% of its revenue comes from these solutions.

2.8981%

NuScale Power Corporation

Pure Play

NuScale is a nuclear pure play that builds and sells light water small modular reactor that range from 77MW to 924MW.

0.6182%

Nuvve Holding

Failed Market Cap Filter

Nuuve sells vehicle-to-grid technology that allows EV owners to store and resell energy to the grid.

Electric Cars

NV5 Global

Lacked Sufficient Information

NV5 is an engineering and construction company that helps clients achieve net-zero emissions in its buildings. But it also works with many oil and gas companies. It√ïs not clear which of these accounts for more revenue.

Critical Minerals

nVent Electric

Failed Defense & Revenue Filter

nVent is an electrical equipment company that sells military aerospace systems, battlefield networks and shipboard targeting systems, and combat aircrafts to the defense industry. It fails our defense filter.

Wind Power

Nvidia

No Drawdown Solution

Nvidia sells graphics processing units, application programming interface for data science and high-performance computing. Since they are not a telepresence pure play, they are excluded.

Water Distribution

NWTN Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Land Management

NXP Semiconductors

No Drawdown Solution

NXP sells technology solutions to the automotive, industrial, Internet of Things, mobile, and communications infrastructure markets. But they don√ït offer any climate solutions.

Water Distribution

Nxu, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Oatly Group

Pure Play

Oatly sells plant-based dairy products made from oats.

0.0434%

Oblong, Inc.

Failed Market Cap Filter

Oblong sells products that enable dynamic and immersive visual collaboration across multiple users, screens, devices and locations, enabling individuals to collaborate without needing to physically travel.

Solar, PVs

Ocean Power Technologies

Failed Market Cap Filter

Ocean Power uses ocean power to generate electricity, a climate solution. But it sells this technology to offshore oil and gas companies as an alternative to diesel generators. It√ïs not clear which end-market generates more revenue for Ocean Power.

Critical Minerals

OGE Energy

Failed Utility Filter

OGE is an electric utility that generates 93% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Oklo Inc.

Pure Play

Oklo Inc. designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services.

0.3748%

ON Semiconductor

Lacked Sufficient Information

ON makes semiconductors for many industries, including EV charging infrastructure. But we exclude them because they don√ït provide a revenue breakdown for each of its end-markets.

Electrical Utility

OPAL Fuels Inc.

Pure Play

Opal fuels makes renewable natural gas which is a drop in replacement for natural gas derived from fossil fuels but is derived from contemporary sources like anaerobically digesting cow manure.

0.0591%

Oracle

Failed Telepresence Filter

Oracle provices products and services that address enterprise information technology environments. Since they√ïre not a telepresence pure play, it fails the telepresence filter.

Electrical Utility

Origin Materials, Inc.

Failed Market Cap Filter

Origin Materials is a bioplastics pure play that converts sustainable feedstocks into plastics that can replace petroleum-based plastics.

Electric Cars

Orion Energy Systems

Failed Market Cap Filter

Orion Energy is an LED lighting pure play and also works on retrofit projects.

LED

Ormat Technologies

Pure Play

Ormat produces geothermal energy systems that enable utilities to generate electricity using the heat from the earth.

0.4261%

Otter Tail

Failed Utility Filter

Otter Tail is an electric utility that generates 72% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Owens Corning

Passed Revenue Filter

Owens Corning makes building and construction materials. It make insulation, but this accounts for only 27% of its revenue, so it fails our revenue filter.

1.5027%

Pampa Energía

Failed Utility Filter

Pampa is an electric utility that generates 78% of its power from fossil fuels. It fails our utility filter.

Electrical Utility

Paramount Gold Nevada Corp.

Failed Mining Filter

Paramount Gold Nevada Corp., together with its subsidiaries, engages in the acquisition, exploration, and development of precious metal properties in the United States. The company primarily explores for gold and silver ores. It holds principal interest in the Sleeper gold project with 2,322 unpatented mining claims totaling approximately 38,300 acres located in Humbolt County, Nevada. The company also holds 100% interest in the Grassy Mountain gold project with 442 federal mining claims and 3 patented lode claims covering approximately 9,300 acres located in Malheur County, Oregon. Paramount Gold Nevada Corp. was founded in 1992 and is headquartered in Winnemucca, Nevada.

Critical Minerals

Pentair

Lacked Sufficient Information

Pentair sells products designed to help customers conserve water, which is a climate solution, but also sells products built specifically for the fossil fuel industry. It's unclear which it makes more revenue from, so we exclude them for lacking sufficient information.

Water Distribution

Perma-Fix Environmental Services

Failed Market Cap Filter

Perma-Fix promotes nuclear power through the treatment of nuclear waste and technical services like radiological measurement.

Energy Storage

Perma-Pipe International Holdings

Failed Revenue Filter

Perma-Pipe makes water leak detection systems, but its application seems to be mostly in oil and gas pipelines, hazardous fluid and chemicals. A revenue breakdown between these application isn√ït given.

Electric Cars

PG&E

Failed Utility Filter

While 93% of the electricity PCG transmits is clean, only 45% of the energy the generate is clean, and 25% of its revenu comes from the sale of natural gas.

Electrical Utility

Phoenix Motor Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Piedmont Lithium Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Pineapple Energy Inc.

Failed Market Cap Filter

Pineapple Energy is a solar energy and energy storage pure play. Through consultation, home visits, design review, permitting, installation, inspection, and grid connection, Pineapple Energy helps households go solar.

Efficient Shipping

Pinnacle West Capital

Failed Utility Filter

Pinnacle is an electric utility that generates 78% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Pioneer Power Solutions, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

Planet Green Holdings

Failed Biofuel Filter

Planet Green makes ethanol, tea, chemicals and other products. It fails our biofuel filter, which requires that advanced biofuels make up more than 50% of a company√ïs biofuel production.

Biomass

Platinum Group Metals Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Plug Power

Pure Play

Plug Power makes hydrogen fuel cell solutions through hydrogen fueling systems, proton exchange membrane technologies, and more.

0.2937%

Polestar Automotive Holding UK PLC

PNM Resources

Failed Utility Filter

PNM is an electric utility that generates 56.4% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Nuclear Power

Polar Power

Failed Market Cap Filter

Polar Power makes DC power systems that promote the climate solution of grid flexibility. But diesel, gas, and propane seem to be its predominant formats. A revenue breakdown is not present, so we exclude it for lacking sufficient information.

Ocean Power

Pure Play

Polestar is a prominent EV design and manufacturing company, focusing on high-end EVs, based out of Sweden.

0.2462%

Portland General Electric

Failed Utility Filter

Portland GE is an electric utility that generates 62% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

POSCO Holdings Inc.

Failed Revenue Filter

PKX derives most of its revenue from steel, but they derive it from virgin materials, not recycled steel, so it fails our recycled metals filter.

Heat Pumps

Power Integrations

Failed Revenue Filter

Power Integration sells integrated circuits and other electronic circuitry. Applications include LED lighting, but this is a small part of its revenue. It fails our revenue filter.

LED

PPL

Failed Utility Filter

PPL is an electric utility that generates ~99% of its power from fossil fuels, including coal. It fails our utility and coal filter.

Electrical Utility

Preformed Line Products

Passed Revenue Filter

Preformed Line Products makes 66% of its revenue from improving grid flexibility by maintenance of energy networks.

0.0635%

Efficient Irrigation

Public Service Enterprise Group

Failed Utility Filter

PSEG is a utility that generates ~64% of its power from fossil fuels. It fails our utility filter.

Electrical Utility

PureCycle Technologies

Pure Play

PureCycle converts waste plastics into virgin quality plastic.

0.1915%

Quanex Building Products Corporation

QualTek Services Inc.

Failed Revenue Filter

QualTeck has a renewables infrastructure business, but this only accounts for 5% of its revenue, hence failing the revenue filter.

Electrical Utility

Passed Revenue Filter

Quanex makes components for windows and doors to enhance its temperature insulation, as well as a sealant for solar panels to keep moisture out of PV cells. These solutions account for more than 70% of its revenue.

0.1126%

Quanta Services

Passed Revenue Filter

Quanta Services gets 69% of its revenue from improving grid flexibility by maintaining electric power transmission, distribution infrastructure, and substation facilities.

4.9551%

QuantumScape

Pure Play

QuantumScape is a pure play in solid-state lithium-metal batteries, some of which are used in EVs.

0.3450%

Quest Resource

Failed Market Cap Filter

Quest is a recycling pure play that recycles a variety of items, like scrap tires, metal and glass.

Plant-based diet

Radius Recycling

Pure Play

Radius Recycling industries is North America's largest recyclers of ferrous & nonferrous metal (including end-of-life vehicles) and a manufacturer of finished steel products. Pure play recycled metal.

0.0425%

Rail Vision Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Industrial Recycling

Renew Energy Global PLC

Pure Play

ReNew Power is a clean energy pure play that owns utility-scale wind, solar and hydropower assets totaling over 12GW of generating capacity.

0.2618%

Republic Services

Passed Landfill Filter

Republic makes part of its revenue from recycling, a climate solution. But because this accounts for only 3.7% of its total revenue, so it fails our recycling filter.

5.0000%

Research Frontiers

Failed Market Cap Filter

Research Frontiers makes suspended particle device light control technology that undergirds dynamic glass technology, which helps enhance energy efficiency in buildings.

Dynamic Glass

ReTo Eco-Solutions

Failed Market Cap Filter

ReTo Eco-Solutions makes environmentally friendly construction materials using less carbon-intensive alternative materials.

EV Infrastructure

REX American Resources

Failed Biofuel Filter

REX American Resources is one of the leading producers of corn-based ethanol and corn oil. It fails our biofuel filter, which requires that advanced biofuels make up more than 50% of a company√ïs biofuel production.

Biofuels

Rivian Automotive, Inc.

Pure Play

Rivian is a pure play that makes electric pickup trucks, SUVs, and EV charging solutions.

1.6412%

Shoals Technologies Group

Roper Technologies

No Drawdown Solution

Roper Technologies makes software and measurement & analytical services for water meters that enable water utilities to remotely monitor customer water-use. But it doesn√ït make leak detection or water conservation solutions.

Water Distribution

Safe & Green Holdings Corp.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

SAIHEAT Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

SemiLEDs

Failed Market Cap Filter

SemiLEDs sells LED chips, components and modules which are used for general lighting.

LED

Sempra Energy

Failed Utility Filter

Sempra Energy is an energy utility. Only 29.5% of its electricity generation is clean, and 57.6% of its total revenue comes from gas distribution. We therefore exclude them from the Climate Index.

Electrical Utility

SES AI Corporation

Failed Market Cap Filter

SES is an energy storage pure play that builds high-performance lithium-ion batteries and EVs and other applications.

Electric Cars

Pure Play

Shoals sells electrical balance of system solutions for solar energy projects.

0.1020%

Sigma Lithium Corporation

Passed Mining Filter

Sigma Lithium explores and develops lithium mining sites in Brazil. Lithium is a critical mineral for the energy transition, particularly for batteries.

0.2115%

Snow Lake Resources Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

EV Infrastructure

Sociedad Química y Minera de Chile S.A.

Lacked Sufficient Information

While SQM does mine for some critical minerals, they do not disclose the breakdown between those and others (like gold and silver) so we exclude them for lack of information.

Energy Storage

SolarBank Corporation

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

EV Supply Chain

SolarEdge Technologies

Pure Play

SolarEdge sells DC inverter systems for solar PVs, EV charging solutions, lithium-ion cells and batteries, and power supply solutions.

0.0966%

SolarMax Technology, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Solid Power, Inc.

Failed Market Cap Filter

Solid Power is a pure play in energy storage that is developing all-solid-state battery cell technology that replaces the liquid or gel polymer electrolyte in conventional lithium-ion battery cells with a sulfide-based solid electrolyte

EV Infrastructure

Solidion Technology Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Solitario Zinc Corp.

Lacked Sufficient Information

XPL is a mineral exploration company. While it does explore for some critical minerals, its main focus is gold which is not a mineral critical to the energy transition.

Plant-based diet

Southern Copper Corp

Passed Mining Filter

96% of SCCO's revenue comes from the extraction and sale of the critical minerals: copper, molybdenum, and zinc.

5.0000%

SPI Energy

Failed Market Cap Filter

SPI Energy builts solar projects for power producers, owns its own solar projects, and makes EVs and EV charging infrastructure.

Solar, PVs

SPRU (XL Fleet)

Failed Market Cap Filter

Spruce Power sells solar charging of cars a service, as well as battery packs and other key components to clean electrification.

Bioplastics

SRIVARU Holding Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electrical Utility

Standard Lithium Ltd.

Failed Fraud Filter

Standard Lithium failed our fraud filter: https://hindenburgresearch.com/standard-lithium/

Electric Cars

Stardust Power Inc.

Passed Mining Filter

Stardust Power Inc. is a vertically-integrated lithium refinery that engages in producing battery-grade lithium. The company was founded in 2022 and is based in Greenwich, Connecticut.

0.0190%

Steakholder Foods Ltd (MITC MeaTech 3D)

Failed Market Cap Filter

Meatech 3D develops cultured meat products without animal slaughtering.

Plant-based diet

Steel Dynamics, Inc.

Passed Revenue Filter

Steel Dynamics is a steel producer and metal recycler. It produces steel using scrap metal and electric arc furnace technology, which is much more energy efficient than blast furnace.

1.8482%

Sunnova Energy International

Steel Partners Holdings

Lacked Sufficient Information

Steel partners makes specialty LED lighting, which is a climate solution, but it also makes steel tubing services to oil and gas companies. It doesn√ït provide sufficient information about the revenue breakdown between these end-markets.

Solar, Hot Water

Stellantis N.V.

Lacked Sufficient Information

Stellantis produces some EVs, but they don√ït provide a revenue breakdown between its EV and internal combustion vehicle offerings. We exclude them because they lack sufficient information.

Electrical Utility

Stem

Failed Market Cap Filter

Stem helps buildings to switch from onsite, to stored, to grid electricity with its AI-powered platform.

Energy Storage

Sterling Construction

No Drawdown Solution

Sterling Construction offers infrastructure & rehabilitation projects for highways, roads, bridges, ports, and other systems. But it doesn√ït makes any leak detection or water conservation technologies.

Wind Power

Pure Play

Sunnova is a leading residential solar PV company in the US

0.0570%

SunOpta

Pure Play

SunOpta sells plant-based foods and beverages from almond, soy, coconut, oat, or hemp.

0.0919%

Sunrise New Energy Co., Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

Sunrun

Pure Play

Sunrun sells solar energy systems like panels, and energy storage systems, primarily to residential customers.

0.2518%

Surf Air Mobility Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Swvl Holdings Corp.

Failed Market Cap Filter

Swvl is a mass transit pure play that allow for semi-flexible minibus routes as a ride-sharing option. Swvl is a more flexible alternative to large-scale mass transit and a lower-emissions alternative to cab hailing apps like Uber and Lyft.

Electric Cars

SYLA Technologies Co., Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Tantech Holdings Ltd

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Carbon Management

Tata Motors

Failed Revenue Filter

Tata Motors makes some EVs, but these only account for about 23% of its total revenue. It fails our revenue filter.

Waste To Energy

Teck Resources Ltd Class B

Failed Mining Filter

Despite making a good portion of its revenue from copper and zinc (both critical minerals), Teck owns multiple fossil fuel extraction sites including a tar sands site in Canada. Therefore we exclude it.

Critical Minerals

Tecnoglass

Passed Revenue Filter

Tecnoglass sells high-performance windows.

0.3743%

Tesla

Pure Play

Tesla makes EVs, solar energy generation, and energy storage products.

5.0000%

Tetra Tech

Failed Defense Filter

Tetra Tech helps clients achieve net-zero emissions in its buildings. But it also works with many oil and gas companies and does a significant amount of work for militaries. It doesn√ït give a precise revenue breakdown.

Electric Cars

The AES

Failed Utility Filter

AES is an electric utility that produces 57% of its power from fossil fuels (including coal) and the rest from renewables. It fails our utility and coal filters.

Electrical Utility

The Hain Celestial Group

Passed Revenue Filter

Hain sells a variety of plant-based snack products like tortilla chips, whole grain chips, and pita chips, plant-based beverages, plant-based meat-alternative products.

0.0517%

TMC the metals company Inc.

The Lion Electric

Failed Market Cap Filter

Lion Electric sells all-electric medium and heavy-duty urban vehicles like trucks and buses to electrify mass transportation.

Electric Cars

The Southern

Failed Utility Filter

The Southern is an electrical utility that generates 72% of its power from fossil fuels. It fails our utility filter.

Electrical Utility

Thunder Power Holdings, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Tigo Energy, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Passed Mining Filter

Deep Sea Ocean mining is still in its research phase. It has the promise of being significantly less environmentally impactful than land-based mining for critical minerals as it's largely picking up large, metal-rich rocks from the bottom surface of the ocean. Credible concerns have been raised about TMC and other deep sea mining efforts from groups like Greenpeace. Without a for-profit motive, we do not believe there will be adequate funding to properly vet the full environmental impact of deep sea ocean mining. Given its potential to be significantly less impactful than land-based operations, we decided to include TMC and other Deep Sea Mining companies until the full environmental reviews have been completed.

0.0401%

TopBuild

Passed Revenue Filter

TopBuild sells insulation products for buidlings

0.9651%

TOYO Co., Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Critical Minerals

Toyota Motor

Failed Revenue Filter

Toyota makes some EVs but makes most of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

LED

TPI Composites

Failed Market Cap Filter

TPI makes 96% of its revenue from composite wind blades, related precision molding and assembly systems

Wind Power

Trane Technologies

Lacked Sufficient Information

Trane sells HVAC products, including high-efficiency heat pumps, which are a climate solution. But they don√ït give a revenue breakdown by product. They√ïre excluded from the Index for lack of sufficient information.

Building Automation

TransAlta

Failed Utility Filter

TransAlta is an electric utility that generates 41.7% of its power from gas and 38.3% from renewables. It fails our utility filter.

Electrical Utility

Trilogy Metals Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

Tronox Holdings PLC

Failed Mining Filter

Tronox produces titanium dioxide, a pigment for making products white, not a critical mineral.

Critical Minerals

Turbo Energy, S.A. American Depositary Shares

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Industrial Recycling

Tutor Perini

Failed Defense Filter

Tutor Perini is a construction company. It builds military defense facilities so it fails our defense filter.

Nuclear Power

U Power Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

U.S. Gold Corp.

Failed Mining Filter

U.S. Gold Corp. operates as a gold and precious metals exploration company. It explores for gold, copper, silver, and zinc deposits. The company holds interest in the CK Gold project located in the Silver Crown mining district of southeast Wyoming. It also holds interests in the Keystone and Maggie Creek exploration properties located on the Cortez and Carlin Trends in Eureka County, Nevada; and the Challis Gold project located in Idaho. The company is based in Elko, Nevada. U.S. Gold Corp. was a former subsidiary of Copper King, LLC.

Electric Cars

U.S. GoldMining Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

Ultralife

Failed Market Cap Filter

Ultralife makes a majority of its revenue from EVs and energy storage. But it fails our defense filter because it sells batteries specifically designed for military combat and communications.

Fuel Cells

Unifi, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Two Wheelers

Unitil

Lacked Sufficient Information

Until makes roughly equal amount of revenue from electric and gas distribution. But it√ïs not clear how much of its electricity purchase is in the form of renewable energy certificates. We exclude it for lacking sufficient information.

Energy Storage

Universal Stainless & Alloy Products, Inc.

Lacked Sufficient Information

Universal Stainless is a steel maker that recycles scrap metal from its own production. But they don't disclose how much of its raw material is scrap metal, so they’re excluded for lack of sufficient information.

Nuclear Power

Ur-Energy

Pure Play

Ur-Energy explores uranium mineral properties in 12 projects in the US.

0.0641%

Uranium Energy

Pure Play

Uranium Energy extracts and processes uranium.

0.3316%

Uranium Royalty Corp.

Passed Mining Filter

Uranium Royalty is a pure-play uranium mining company that primarily mines for uranium in Canada. Uranium is needed to power nuclear energy, a fossil-fuel free power source.

0.0446%

US Antimony

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

EV Infrastructure

Valmont Industries

Passed Revenue Filter

Valmont makes irrigation efficiency and grid flexibility solutions, both of which are climate solutions.

0.6310%

Vast Renewables Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

Veeco Instruments

Lacked Sufficient Information

Veeco makes semiconductors and thin film process equipment, with applications in solar PVs and LEDs. But since they don√ït provide a revenue breakdown, we exclude them for lack of sufficient information.

Alternative Cement

Verde Clean Fuels, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Aviation

Vertex Energy, Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

Vertical Aerospace Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, PVs

Vertiv Holdings

Failed Revenue Filter

Vertiv helps improve grid flexibility, but it has customers in the oil and gas industry. It√ïs not clear how much revenue they get from these customers.

Wind Power

Via Renewables

Failed Utility Filter

Via Renewables is a retail distributor of electricity and gas. But it doesn√ït give information about the sources of the electricity it purchases. We exclude it for lacking sufficient information.

Insulation

Vicinity Motor Corp.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Boats

Vicor

Failed Defense Filter

Vicor sells defense electronics used in airborne, seaborne, or field communications and radar, which fails our defense filter.

Mass Transit

Village Farms International

Failed Revenue Filter

Village Farms operates a methane digester power plant and sells the electricity it generates. But since this accounts for less than 1% of its total revenue, it fails our revenue filter.

Methane Capture

VinFast Auto Ltd.

Pure Play

VinFast is a Vietnamese electric car manufacturer that generates all of its revenue from developing and selling EVs

1.0529%

Vision Marine Technologies Inc.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Solar, Pvs

Vistra

Failed Utility Filter

Vista is an electric utility that generates ~93% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Vita Coco Co Inc

Failed Plant-Based Diet Filter

Vita Coco sells coconut water in different variations. But since its products aren√ït replacements to meat-based foods, it fails the plant-based food filter.

Plant-based diet

Vivint Smart Home

Lacks Proper Information

Vivint sells cloud-enabled smart home operating systems that enable homeowners to run its HVAC and other systems with less energy. But it doesn√ït give a revenue breakdown between its products.

Net-zero building

VivoPower International

Failed Market Cap Filter

Vivo Power provides EVs, critical power services, battery and microgrid technology and solar power. These products and services account for nearly 100% of its revenue.

Electrical Utility

Volcon

Failed Market Cap Filter

Volcon is an electric car pure play that builds electric motorcycles, off-road powersports vehicles, and utility terrain vehicles.

Telepresence

Wallbox NV

Failed Market Cap Filter

Wallbox is an EV infrastructure pure play that makes EV charging systems that allow communication between user, vehicle, grid, building and charger.

Electric Two Wheelers

Waste Connections

Passed Landfill Filter

Azure Power is an electric utility that is focused on generating clean electricity. 100% of Azure Power's revenue comes from generating renewable power.

4.5415%

Waste Management

Passed Landfill Filter

Waste Management has methane capture systems at 144 out of 260 landfill in operations. Since it has methane capture systems at more than 50% of these landfill sites, WM passes our landfill filter.

5.0000%

Watsco, Inc.

Failed Revenue Filter

Watsco is a large US-based retailer that contractors use for HVAC systems. They sold about 8.7 million HVAC units but only about 1.5 million were heat pumps or high efficiency ductless, so they do not pass our revenue filter.

Smartgrid

Watts Water Technologies

Passed Revenue Filter

Watts makes 52% of its revenue from residential and commercial leak detection and water quality monitoring products

0.6889%

WEC Energy Group

Failed Utility Filter

WEC is an electric utility that generates 89% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

WESCO International

Failed Revenue Filter

WESCO sells basic grid upgrade equipment, smart grid products, transformers and distribution hardware, but these products only account for 26.8% of its total revenue. It fails our revenue filter.

Grid Expansion

Westinghouse Air Brake Technologies

Failed Revenue Filter

WAB makes products for locomotives, freight cars and passenger transit vehicles. It√ïs not clear how much revenue it gets from particular products, so we exclude it for lacking sufficient information.

Smart Thermostat

Westwater Resources

Failed Market Cap Filter

Westwater Resources is a pure play in battery-ready graphite materials, a key component in battery construction.

SmartGrid

Whole Earth Brands

No Drawdown Solution

Whole Earth Brands makes plant-based consumer packaged goods, but it also makes flavored products used by the tobacco industry, thus failing the tobacco filter

Water Distribution

Willdan Group

Passed Revenue Filter

Wildan provides consulting services to help clients achieve its energy efficiency goals, grid optimization, emissions reduction, and building retrofits.

0.0552%

Workhorse Group

Failed Fraud Filter

Workhorse is an EV manufacturer but is currently under investigation for insider trading. We exclude them because it fails our fraud filter.

Recycling

Xcel Energy

Failed Utility Filter

Xcel is an electric utility that generates 51% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Electrical Utility

Xos, Inc.

Failed Market Cap Filter

XOS Truck is an EV pure play that makes electric drivetrains for trucks as well as medium- and heavy-duty electric trucks.

Recycling

XPeng

Pure Play

XPeng sells EVs, including sedans, for the Chinese market.

0.9328%

ZEEKR Intelligent Technology Holding Limited

Xylem

Failed Revenue Filter

Xylem makes water leak detection and remote monitoring solutions, but these account for much less than 50% of its total revenue. It fails our revenue filter.

Water Distribution

Zapp Electric Vehicles Group Limited

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Trains

Pure Play

ZEEKR is a Chinese manufacturer of electric cars and electric car parts like drivetrains.

0.7102%

Zoom Video Communications

Zeo Energy Corp.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Electric Cars

Pure Play

Zoom offers video, phone, and chat communications technology and services.

2.5823%

ZOOZ Power Ltd.

Failed Market Cap Filter

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Energy Storage

374Water, Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

5E Advanced Materials Inc.

Biofuels

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

8x8, Inc.

0.0361%

8x8, Inc. provides voice, video, chat, contact center, business phones and cloud-based contact center solutions that enable people and businesses to avoid traveling for meetings.

Pure Play

A. O. Smith

Solar, PVs

AO Smith sells water heaters, boilers, and water treatment products, but not water leak detection solutions, so they don√ït contribute to any climate solutions.

Lacked Sufficient Information

AAON

1.0173%

Retrofit

AAON sells geothermal/water-source heat pumps a key technology for making buildings electrified and more energy efficient.

Passed Revenue Filter

Acuity Brands

0.9750%

Acuity makes LED lights for commercial, architectural, and specialty applications. Acuity also makes building efficiency and building automation products.

Pure Play

ADS-TEC Energy PLC

0.0796%

ADS-TEC Energy is an EV infrastructure pure play. ADS-TEC Energy's ChargeBox is a fast charging solution for EVs with up to 320 KW charging power.

Pure Play

Advent Technologies Holdings

Energy Storage

Advent sells components that improve the performance of hydrogen fuel cells for the aviation, automotive, and other markets.

Failed Market Cap Filter

Aecom

Hybrid Cars

Aecom provides infrastructure consulting services for developing fuel cell, solar/wind infrastructure, and EV infrastructure, but these only account for 3% of its revenue.

Failed Revenue Filter

Aemetis

Grid Expansion

Failed Biofuel Filter

Agrify

Alternative Cement

Agrify sells LED grow lights amongst other business activities, but don√ït provide a revenue breakdown, thus are excluded for lack of sufficient information.

Failed Market Cap Filter

Albemarle Corporation

Critical Minerals

Albemarle makes lithium compounds that promote energy storage. But 55% of its revenue comes from chemical products for the oil and gas industry, so it fails our revenue filter.

Failed Mining Filter

Algoma Steel Group Inc.

Biomass

Failed Revenue Filter

Algonquin Power & Utilities.

Electrical Utility

Failed Utility Filter

Alico, Inc.

Electric Aviation

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Allegro Microsystems

Perennial Staple Crops

Failed Revenue Filter

ALLETE

Electrical Utility

Failed Utility Filter

Alliant Energy

Electrical Utility

Alliant is an electric utility company that produce 70% of its power from fossil fuels, including coal. It fails our utility and coal filter.

Failed Utility Filter

Allison Transmission Holdings, Inc.

LED

Failed Defense Filter

Alternus Clean Energy Inc

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Altus Power, Inc.

0.0722%

Altus Power is a clean electricity generation pure play. Because all of its revenue comes from clean electricity, we include it in the Climate Index.

Pure Play

Ameren

Electrical Utility

Ameren is a power utility. It don√ït provide enough information about its sources of power generation. We exclude Ameren for lack of sufficient information.

Lacked Sufficient Information

Ameresco

0.1498%

Ameresco makes buildings more energy efficient, builds renewable power plants, sells solar PV products, and owns a wind power project.

Pure Play

American Battery Technology Company

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

American Electric Power

Electrical Utility

American Electric Power is a utility that produces 70% of its power from coal and natural gas, and the rest from clean sources. It fails our utility and coal filters.

Failed Utility Filter

American Lithium Corp.

Waste To Energy

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Amprius Technologies, Inc.

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Amtech Systems

LED

Failed Market Cap Filter

Apogee Enterprises

0.1597%

Apogee makes high-performance glass and related products that enhance the energy efficiency of buildings.

Passed Revenue Filter

Aqua Metals

LED

Aqua recycles lead that is primarily used in lead acid batteries, which promotes the circular economy

Failed Market Cap Filter

Arcadia Biosciences, Inc.

Recycled Metals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Arcadium Lithium PLC

Arcadium Lithium (Formerly Livent) is a pure play that sells lithium compounds, primarily used in lithium batteries, a key component in EV's and battery storage of electricity.

Pure Play

Archer Aviation Inc.

0.4983%

Atlantica Sustainable Infrastructure

Archer Aviation is an electric aviation pure play that is designing an electric aircraft for use in future urban air mobility networks and reduce the need for fossil-fuel powered air transport.

Pure Play

Arcosa

Wind Power

Failed Revenue Filter

Argan

Electric Cars

Argan√ïs subsidiary Gemma offers clean power generation but also fossil fuel-based power plant. Its gas-fired power plant is much bigger than its clean power generation.

Failed Revenue Filter

Array Technologies

0.1032%

Refrigerant Management

Array sells solar tracking systems that use machine learning to identify the best positioning for a solar array to increase energy production.

Pure Play

Ascent Solar Technologies, Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

ASP Isotopes Inc.

Insulation

ASP Isotopes refined uranium, but for a variety of uses including medical. Given their lack of breakdown, we not include them.

Lacked Sufficient Information

Aspen Aerogels, Inc.

Water Distribution

Aspen Aerogels make aerogel materials used in the energy infrastructure, building materials and EV markets. But its main end-markets are fossil fuel plants, thus failing the revenue filter.

Lacked Sufficient Information

Atlantic Power

Critical Minerals

Atlantic produces 70% of its power from fossil fuels, so it fails our utility filter. In 2021, it was acquired by I Squared Capital.

Failed Utility Filter

0.2614%

Stem helps buildings to switch from onsite, to stored, to grid electricity with an AI-powered platform.

Passed Revenue Filter

Atlas Lithium Corporation

Net-Zero Building

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Atlas Technical Consultants

Solar, PVs

Failed Revenue Filter

ATRenew Inc.

0.0609%

ATRenew is a platform where pre-owned consumer electronics (mostly mobile phones) are bought and sold. This is a pure play that contributes to the climate solution of recycling.

Pure Play

AudioCodes

0.0315%

AudioCode sells software and productivity solutions for virtual work environments, enabling people to collaborate without the need of physical travel.

Pure Play

Austin Gold Corp.

Critical Minerals

Failed Mining Filter

Avangrid

SmartGrid

Failed Utility Filter

Avista

Electrical Utility

Avista is an electric utility that produces most of its power from clean sources. But 13% of its power comes from coal with no plans for its retirement in the next 3 years. It fails our coal filter.

Failed Utility Filter

AXT

LED

AXT makes semiconductor substrates used in LEDs, thermal imaging, and autonomous vehicles. They don√ït give a precise revenue breakdown, so we exclude them for lack of sufficient information.

Failed Market Cap Filter

Ayro

Electric Two Wheelers

Ayro is a pure play in EVs for last-mile delivery, which can access tight areas like university paths and business parks.

Failed Market Cap Filter

Babcock & Wilcox Enterprises

Waste to Energy

Failed Revenue Filter

Badger Meter

0.6423%

Badger makes >50% of its revenue from selling water meters that can help water utilities detect leaks, an important climate solution.

Passed Revenue Filter

Baijiayun Group Ltd

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Ballard Power Systems

0.0606%

Net-zero building

Ballard sells proton exchange membrane fuel cells to transit but, rail, and critical infrastructure industries that can enable them to run without carbon emissions

Pure Play

Beacon Roofing Supply

Electrical Utility

Beacon sells and distributes insulation products, solar paneling, solar inverters and solar panels mounting hardware.

Failed Revenue Filter

Beam Global

Electric Cars

Beam Global sells EV charging solutions that use solar power and battery storage to power themselves.

Failed Market Cap Filter

Benson Hill, Inc.

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Beyond Meat

0.0261%

Beyond Meat sells various plant-based meat products that reduce the demand for traditional animal-based meat.

Pure Play

Blink Charging

EV Infrastructure

Blink operates a wide network of EV charging stations.

Failed Market Cap Filter

Bloom Energy

Hybrid Cars

Bloom Energy√ïs energy servers can operate on both hydrogen and biogas, but most of them use natural gas as its fuel. We consider this fossil fuel revenue.

Lacked Sufficient Information

Blue Bird Corporation

Bioplastics

Blue Bird manufactures school buses. Although they are a leader in electric school buses, it still falls below 50% of their revenue.

Failed Revenue Filter

Borealis Foods Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

BorgWarner

Electric Cars

BorgWarner makes some solutions for EVs but makes a much larger portion of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Failed Revenue Filter

BranchOut Food Inc.

Electric Two Wheelers

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Brenmiller Energy Ltd

Ocean Power

Brenmiller makes heat battery based on natural crushed rocks, but were excluded because it has been on the market for less than 6 months

Failed Market Cap Filter

Broadwind

Telepresence

Broadwind makes 70% of its revenue by selling steel towers and adapters to wind turbine manufacturers.

Failed Market Cap Filter

Brookfield Infrastructure Partners L.P.

Electrical Utility

Lacked Sufficient Information

Brookfield Renewable

0.5332%

Brookfield is an yieldco that is focused on generating electricity from renewable energy assets. 100% of its revenue comes from generating renewable power.

Pure Play

BWX Technologies

Smart Thermostat

BWX performs fabrication activities for missile launch tubes for US submarines, which fail our defense filter.

Failed Defense Filter

Cameco

2.4411%

Cameco mines and sells uranium for the purposes of nuclear fuel production.

Pure Play

Canadian Solar

0.0836%

Canadian Solar sells solar ingots, wafers, cells, modules, panels and other solar power products as well as battery storage products.

Pure Play

Canoo

Electric Cars

Canoo is a pure play that makes electric delivery and multi-purpose vehicles, including an electric skateboard.

Failed Market Cap Filter

Carlisle Companies

Electric Cars

Lacked Sufficient Information

Carrier Global

5.0000%

Carrier sells HVAC products including high-efficiency heat pumps, a technology necessary for electrifying and energy retrofitting buildings.

Passed Revenue Filter

Casella Waste Systems

LED

Failed Landfill Filter

CBAK Energy Technology

Biomass

CBAK is a pure play that makes lithium batteries used in EVs, electric tools, and energy storage applications.

Failed Market Cap Filter

Cenntro Electric Group Limited

Mass Transit

Cenntro Electric is a EV pure play that makes light- and medium-duty electric commercial vehicles.

Failed Market Cap Filter

CenterPoint Energy

Electrical Utility

CenterPoint is an electric utility that produces most of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Centrais Elétricas Brasileiras - Eletrobrás

Electrical Utility

Failed Utility Filter

Central Puerto

Electrical Utility

Central Puerto produces 61.5% of its power from fossil fuels (gas) and the rest from renewables (hydro and wind). It, therefore don√ït pass our utility filter.

Failed Utility Filter

Centrus Energy

0.1369%

Centrus sells various components of nuclear fuel and provides technical services to deploy advanced nuclear fuel production capabilities.

Pure Play

ChargePoint Holdings

0.0543%

ChargePoint sells EV charging solutions like smart charging stations, which can be used by fleets or individual owners.

Pure Play

Chijet Motor Company, Inc.

Electric Two Wheelers

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

China Recycling Energy

Water Distribution

Failed Revenue Filter

Cisco

Telepresence

Failed Telepresence Filter

Clean Energy Fuels Corp.

0.0688%

Passed Revenue Filter

Clean Energy Technologies, Inc.

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Clean Harbors Inc

Critical Minerals

Failed Landfill Filter

CleanSpark

Methane Capture

CleanSpark sells distributed energy systems and microgirds, but the vast majority of its revenue comes from bitcoin mining which is not a Climate solution. It fails our revenue filter.

Failed Revenue Filter

ClearOne

Solar, PVs

ClearOne sells audio conferencing products and sound-reinforcement products that improve virtual connections and enable people to more easily collaborate without physical travel.

Failed Market Cap Filter

Clearway Energy

0.5305%

Clearway Energy is an yieldco that's purely focused on generating clean electricity. 99.5% of the electricity it generates comes from renewables.

Passed Revenue Filter

CMS Energy

Electrical Utility

CMS is an electric utility that produces 79.2% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

CN Energy Group

Solar, PVs

CN Energy Group makes biomass electricity from wood. Due to its high emissions, Carbon Collective does not consider biomass electricity a Climate Solution and therefore exclude it.

Failed Market Cap Filter

Comfort Systems USA

Fuel Cells

Comfort Systems makes 84.5% of its revenue from replacing old HVAC systems with more efficient ones.

Lacked Sufficient Information

Commercial Metals

0.5881%

Commercial Metals manufactures steel and metal products, 98% of which is from recycled scrap metal, helping make steel a circular industry

Passed Revenue Filter

Complete Solaria, Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Comstock Inc.

Waste To Energy

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

ConnectM Technology Solutions, Inc.

EV Infrastructure

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Consolidated Edison

Electrical Utility

51.8% of the electricity Con Ed generates and just about half of the electricity they transmit is clean, meaning they fall well below the 100% threshold.

Failed Utility Filter

Constellation Energy Corporation

Electrical Utility

Failed Utility Filter

Contango Ore, Inc.

Critical Minerals

Failed Mining Filter

Core & Main, Inc

Recycled Metals

Core & Main sells smart meters and advanced metering technology that help reduce water loss through leak detection. But these account for only 8% of its revenue, so it fails the revenue filter.

Failed Revenue Filter

Corning

Telepresence

Corning makes LED display products and emissions control products for the automotive industry, but not LED lighting, leaving it without a climate solution.

No Drawdown Solution

CRH

Heat Pumps

CRH makes building materials, including high-performance glass, a climate solution. But most of its revenue comes from conventional cement, concrete and asphalt.

Lacked Sufficient Information

Critical Metals Corp.

0.0614%

Critical Metals Corp is a pure play lithium mining company. Lithium is a key component for lithium ion batteries.

Passed Mining Filter

Crown ElectroKinetics

Fuel Cells

Crown makes dynamic glass that changes its opacity and reflectiveness in response to outside conditions. Dynamic glass enhances the energy efficiency of buildings.

Failed Market Cap Filter

CSW Industrials

Microgrid

CSW makes 69% of its revenue from products that make heating and cooling systems more efficient.

Failed Revenue Filter

Cummins

Electric Cars

Cummins makes hydrogen production solutions, but 71% of its revenue comes from selling parts for internal combustion engine vehicles, and the oil and gas markets, so it fails our revenue filter.

Failed Revenue Filter

CVD Equipment

LED

CVD is a specialty industrial machinery company. It offers MesoPlasma printing services and products to the defense industry, failing our defense filter.

Failed Defense Filter

Dana Corporation

Electric Cars

Dana sells both EV and internal combustion engine vehicle parts, but we exclude them because a revenue breakdown between those two segments is not provided.

Lacked Sufficient Information

Daqo New Energy

0.1408%

Daqo core business is selling high-purity polysilicon used in solar PVs to PV manufacturers.

Pure Play

Denison Mines Corp

0.2731%

Gingko uses genetic engineering to product bacteria with industrial applications. It works in the food and agricultural markets, but don√ït offer Climate solutions.

Pure Play

Digi International

Telepresence

Digi International sells embedded and external network communications as well as USB products. They are not a telepresence pure play, so they√ïre excluded from the Index.

Failed Telepresence Filter

Diodes

Insulation

Diodes sells discrete semiconductor products with consumer electronics industry applications. But it makes only small revenue from LED lighting applications, so it fails our revenue filter.

Failed Revenue Filter

DocuSign

1.8844%

DocuSign provides an e-signature solution that allows for digital signing of agreements and documents, saving both paper and emissions from transportation

Pure Play

Dominion Energy

Electrical Utility

Dominion is an electric utility that generates about half of its power from fossil fuels, including coal. With no plans to retire its coal plants, it fails our coal filter.

Failed Utility Filter

Dow

Efficient Irrigation

Dow makes both traditional and bioplastics. We exclude it for lacking sufficient information that would help us determine which is a larger source of revenue.

Lacked Sufficient Information

Dragonfly Energy Holdings Corp.

Waste To Energy

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

DTE Energy

Electrical Utility

DTE is an electric utility that produces 70.4% of its power from fossil fuels, failing our utility filter.

Failed Utility Filter

Duke Energy

Electrical Utility

Duke Energy is an electric utility that produces 74% of its power from fossil fuels, failing our utility filter.

Failed Utility Filter

DuPont de Nemours

Water Distribution

Lacked Sufficient Information

Eaton

Biofuels

Eaton makes 62% of its revenue by improving grid flexibility by selling various electrical and power products.

Failed Defense Filter

Eco Wave Power

Solar, Concentrated

Eco Wave is a pure play that makes technology that converts ocean and sea waves into clean electricity.

Failed Market Cap Filter

Ecolab

Bioplastics

Lacked Sufficient Information

Edison International

Electrical Utility

Edison International is an electric utility but it doesn√ït give enough information about its power generation sources.

Lacked Sufficient Information

EHang Holdings Limited

Critical Minerals

EHang provide electric short range flights. However they also provide aerial surveillance and advertising/entertainment. It is not clear how much revenue comes from each branch

Lacked Sufficient Information

Electra Battery Materials Corporation

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Electrovaya Inc.

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Ellomay Capital

Electrical Utility

Ellomay is an electric utility that produces 62.9% of its power from gas and diesel oil, failing our utility filter.

Failed Utility Filter

eMagin

Critical Minerals

eMagin sells night vision/thermal imaging goggles to customers in the military, failing our defense filter.

Failed Defense Filter

Emeren Group Ltd.

Solar, PVs

ReneSola constructs solar projects and sells project rights.

Failed Market Cap Filter

Emerson Electric

Water Distribution

Emerson makes smart thermostats, which are a climate solution. But it also makes a larger proportion of revenue from products and services for the oil and gas industries.

Failed Revenue Filter

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Energy Storage

EDN is an electric utility but it doesn√ït provide complete enough information about its power generation sources.

Lacked Sufficient Information

Enbridge

Water Distribution

Failed Revenue Filter

enCore Energy Corp.

0.1006%

Electric Two Wheelers

enCore Energy is a US-based miner and refiner of uranium, the key component for nuclear power which is one of the few 24/7 providers of zero-carbon electricity.

Pure Play

Enel Chile

Electrical Utility

Failed Utility Filter

Energy Focus

LED

Energy Focus makes a variety of LED lighting products that emit the same light for less electricity.

Failed Market Cap Filter

Energy Fuels Inc.

0.1676%

Energy Vault Holdings, Inc.

Energy Fuels generates a majority of its revenue from the mining and processing of uranium, vanadium, and rare earth metals, all of which are needed to decarbonize our economy.

Passed Mining Filter

0.0384%

Carbon Management

Energy Vault is an energy storage pure play that makes gravity-based, grid-scale energy storage solutions.

Pure Play

EnerSys

Grid Expansion

EnerSys is an electrical equipment company. It sells specialty batteries with aerospace ad defense applications, missiles and smart weapons, so it fails our defense filter.

Failed Defense Filter

Enlight Renewable Energy Ltd

0.7680%

Enlight Renewable is a renewable energy developer of wind and solar projects.

Pure Play

Enovix Corporation

Electric Aviation

Lacked Sufficient Information

Enphase Energy

0.9868%

Enphase sells microinverters, energy monitoring software, and AC batteries to solar distributors.

Pure Play

Entergy

Electrical Utility

Entergy is an electric utility that produces 78% of its power from fossil fuels, including coal with no plans to retire its coal plants. It fails our utility and coal filters.

Failed Utility Filter

Enviri Corporation

0.0683%

Passed Revenue Filter

Envirotech Vehicles, Inc.

Food Waste

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Eos Energy Enterprises

0.1231%

Eos is a pure play that makes energy storage solutions to utilities and other customers.

Pure Play

Erayak Power Solution Group Inc.

Perennial Staple Crops

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Ero Copper Corp.

0.2167%

Passed Mining Filter

ESCO Technologies

Water Distribution

Failed Defense & Revenue Filter

ESGL Holdings Limited

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

ESS Tech, Inc.

Electric Cars

ESS is a pure play in long-duration energy storage that makes iron flow battery technology.

Failed Market Cap Filter

Euro Tech Holdings

Telepresence

Euro Tech makes water treatment equipment and other products. But they don√ït offer any climate solutions.

No Drawdown Solution

Eve Holding, Inc.

0.1794%

Eve Holdings is developing an electric helicopter so people can move more quickly around urban settings without fossil fuels.

Pure Play

Evergy

Electrical Utility

Evergy is an electric utility that produces 64% of its power from fossil fuels, including coal, with no plans to retire its coal plants. It fails our utility and coal filters.

Failed Utility Filter

Eversource Energy

Electrical Utility

Most of Eversource's revenue comes from electric, gas and water distribution, which are not climate solutions.

Failed Utility Filter

EVgo

0.1348%

Pure Play

Evoqua Water Technologies

Biofuels

Evoqua offer technologies mostly focused on removing impurities from water. It doesn't make any leak detection technologies, so it fails our water distribution efficiency filter.

No Drawdown Solution

Exelon

Electrical Utility

Failed Utility Filter

Expion360 Inc.

Grid Expansion

Expansion360 sells lithium-ion batteries for RVs, golf carts and marine vehicles. Because these are not replacing previously fossil-fuel powered engines, they don√ït count as climate solutions.

Failed Market Cap Filter

EZGO Technologies

Dynamic Glass

EZ is a pure play that makes e-bicycles, e-tricycles, and lithium batteries for the Chinese market.

Failed Market Cap Filter

Faraday Future Intelligent Electric Inc.

Electric Cars

Faraday is a pure play that intends to start building electric cars.

Failed Market Cap Filter

First Solar

2.0953%

First Solar sells solar modules and power plant solutions.

Pure Play

FirstEnergy

Electrical Utility

FirstEnergy is an electric utility that produces 86.6% of its power from coal and doesn√ït plan to retire its coal plants fully until 2050. It fails our utility and coal filters.

Failed Utility Filter

Flexible Solutions International

Electric Cars

Failed Market Cap Filter

Fluence Energy Inc

0.3223%

Fluence is a pure play that provide energy storage products & services, and AI-enabled digital applications for renewables and storage.

Pure Play

Flux Power Holdings

Energy Storage

Flux makes battery management systems and rechargeable lithium-ion energy storage systems for electric forklifts, airport ground support equipment, and other industrial motive applications.

Failed Market Cap Filter

Fly-E Group, Inc.

Food Waste

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Ford Motor

Electric Cars

Ford Motors makes EVs but makes most of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Failed Revenue Filter

Foremost Clean Energy Ltd.

Food Waste

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Fortis

Electrical Utility

Fortis is an electric utility that makes a vast majority of its power from coal and natural gas. It fails both our utility and coal filters.

Failed Utility Filter

Forza X1, Inc.

Electric Boats

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Franklin Electric

Water Distribution

No Drawdown Solution

Freeport-McMoRan Inc.

Critical Minerals

Failed Ethical Filter

Freight Technologies Inc

Electric Cars

Failed Market Cap Filter

FREYR Battery

Energy Storage

FREYR Battery is working to develop the most cost-competitive batteries with the lowest carbon footprints. It has not generated any reveue as of July 2022

Failed Market Cap Filter

FTC Solar

Industrial Recycling

FTC Solar sells solar tracking systems that identifies the best positioning for a solar array to increase energy production.

Failed Market Cap Filter

FuelCell Energy

Energy Storage

Failed Market Cap Filter

Fusion Fuel Green

Fuel Cells

Fusion Fuel Green makes green hydrogen an important climate solution

Failed Market Cap Filter

FutureFuel

0.0240%

Future Fuels makes 79% of revenue from biofuels made mostly from cooking oils, other plant oils and animal fats. FF predominantly offers "Advnaced Biofuels" and thus pass our biofuel filters.

Passed Revenue Filter

Gatos Silver, Inc.

Plant-based diet

GATO operates numerous underground mines in Mexico generating a majority of its revenue from: silver, lead, and zinc, all critical minerals for the energy transition.

Failed Mining Filter

GE Vernova Inc.

5.0000%

GrafTech International Ltd.

GE Vernova is the renewable energy spinout from GE for what is primarily their wind energy business.

Pure Play

Generac Holdings

Water Distribution

Lacked Sufficient Information

General Electric

Critical Minerals

Failed Defense Filter

General Motors

Plant-Based Diet

General Motors makes some EVs but makes most of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Failed Revenue Filter

Genie Energy

Electrical Utility

Genie Energy is an electric utility. It√ïs not clear what the source of its electric generation is, so we exclude it for lack of sufficient information.

Failed Utility Filter

Genuine Parts

Fuel Cells

Genuine Parts sells auto parts. It seems to get some revenue from the EV industry, but most of its business is with the internal combustion vehicle market. It fails our revenue filter.

Failed Revenue Filter

0.0664%

Pure Play

2.5395%

CSW makes 69% of its revenue from products that make heating and cooling systems more efficient.

Passed Landfill Filter

Gibraltar Industries

Heat Pumps

Gibraltar Industries makes solar racking and electrical balance of systems, but these only account for 32% of its total revenue. It fails our revenue filter.

Failed Revenue Filter

Ginkgo Bioworks Holdings

Water Distribution

Failed Revenue Filter

GMS Inc.

LED

GMS sells products for construction, including insulation, lumber, joint compound, fasteners, etc. It fails the revenue filter because the revenue from insulation was only 28.7%.

No Drawdown Solution

Gogoro Inc.

Energy Storage

Gogoro is an EV pure play that makes smart, swappable electric fuel and intelligent light urban vehicles.

Failed Market Cap Filter

Gold Resource Corporation

Electric Two Wheelers

Failed Market Cap Filter

Golden Minerals Company

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

0.0460%

Hybrid Cars

Pure Play

Graham

Grid Expansion

Failed Defense & Revenue Filter

Granite Construction

Water Distribution

Granite Construction is an infrastructure company. It doesn√ït make any water leak detection or water conservation technology, leaving it without a climate solution.

No Drawdown Solution

Graphex Group Limited

Electric Two Wheelers

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Green Plains

Heat Pumps

Green Plains is one of the largest manufacturers of ethanol from corn. It fails our biofuel filter, which requires that advanced biofuels make up more than 50% of a company's biofuel production.

Failed Biofuel Filter

Greenland Technologies Holding Corporation

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Greenwave Technology Solutions, Inc.

Food Waste

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Hannon Armstrong Sustainable Infrastructure Capital

0.3326%

Hannon Armstrong is an yieldco that's purely focused on generating clean electricity. 100% of the electricity it generates comes from renewables.

Pure Play

Hawaiian Electric Industries

Electrical Utility

Hawaiian Electric is an electric utility that produce ~99% of its power from fossil fuels. It fails our utility filter.

Failed Utility Filter

Heliogen, Inc.

Nutrient Management

Heliogen is an electric utility that's purely focused on generating electricity. 100% of the electricity it generates comes from renewables.

Failed Market Cap Filter

Helios Technologies

Water Distribution

Helios Technologies makes a variety of hydraulic products but not leak detection or water conservation technologies.

No Drawdown Solution

Heramba Electric plc

Mass Transit

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Honda Motor

Net-zero building

Lacked Sufficient Information

Honeywell International

Wind Power

Honeywell is a technology company with an aerospace segment, which we categorize as fossil fuel revenue. It also sells products to the defense industry. It fails our revenue and defense filters.

Failed Defense Filter

Hubbell

2.4194%

Biofuels

Passed Revenue Filter

Hudson Technologies

0.0280%

Hudson makes various refrigerant management solutions an important climate solution.

Pure Play

Hycroft Mining Holding Corporation

Critical Minerals

Failed Mining Filter

Hyliion Holdings

0.0462%

Installed Building Products

Hyliion makes electrified and hybrid powertrain solutions. Its solutions contribute to the climate solutions of hybrid and electric vehicles.

Pure Play

Hyzon Motors Inc.

Energy Storage

Hyzon is a pure play that makes and services hydrogen fuel cell electric vehicles.

Failed Market Cap Filter

IBM

Telepresence

IBM sells computer hardware, middleware and software. Some of its products contribute to telepresence, but since IBM is not a telepresence pure play, it fails our revenue filter.

Failed Telepresence Filter

ICF International, Inc.

Electric Cars

ICF is a consulting company. But revenue from energy, environment and infrastructure accounts for a minority of its revenue, so they fail the revenue filter.

Failed Revenue Filter

Ideal Power Inc.

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Ideanomics

EV Infrastructure

Ideanomics makes 73% of its revenue from EVs and EV charging infrastructure.

Failed Market Cap Filter

IES Holdings

Grid Expansion

Failed Revenue Filter

Ingredion INC

Arc Smelting

Ingredion converts plants into value-added ingredients and biomaterials for food industries. But since its products don√ït replace animal-based foods, it fails our plant-based diet filter.

Failed Plant-Based Diet Filter

0.5045%

Installed Building Products sells and installs insulation for residential and commercial builders, an important climate solution to make buildings more energy efficient.

Passed Revenue Filter

ioneer Ltd

0.0398%

IONR is a pure-play lithium mining company based in Nevada that has offtakes contracts in place with several major electric vehicle and battery manufacturers.

Passed Mining Filter

IperionX Limited

0.1111%

IPX operates an open-pit mine in Tennessee. 100% of its revenue comes from the sale of titanium, a critical mineral for the energy transition according to the IEA.

Passed Revenue Filter

Itron

0.5030%

Itron makes 61% of its revenue from devices that measure and control water, smart meters and leak detection products, all climate solutions.

Passed Revenue Filter

JinkoSolar

0.1583%

Jinko sells solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots, and constructs solar projects.

Pure Play

Jiuzi Holdings

Electric Cars

Jiuzi is a pure play that makes EVs in China.

Failed Market Cap Filter

Joby Aviation, Inc.

0.7696%

Johnson Controls International

Joby is a pure play in electric aviation that√ïs making an all-electric aircraft that can carry a pilot and 4 passengers, replacing the need for fossil fuel powered short haul flights.

Pure Play

5.0000%

Johnson Controls makes HVAC solutions including high-efficiency heat pumps, and build net-zero building systems. These products and services account for 72% of its revenue.

Passed Revenue Filter

Kaltura

Telepresence

Kaltura offers video products that are heavily used in distance learning for virtual classrooms, thus reducing the need for students to physically travel to and from class.

Failed Market Cap Filter

Kandi Technologies Group

Energy Storage

Kandi made 61% of its revenue from EV parts and electric scooters.

Failed Market Cap Filter

Karat Packaging

Grid Expansion

Karat Packaging makes packaging with both traditional and bioplastics. It√ïs not clear which makes up a bigger portion of its revenue, so we exclude it for lacking sufficient information.

Failed Revenue Filter

Kenon Holdings

Electrical Utility

Kenon is an electric utility that produces most of its power from gas and oil. It fails our utility filter.

Failed Utility Filter

Korea Electric Power

Electrical Utility

Korea Electric Power is the largest power producer in Korea with large nuclear and hydro plants, but coal is its largest source of generation. It fails our utility and coal filters.

Failed Utility Filter

KULR Technology Group

Electric Cars

KULR is a pure play that makes thermal management technologies used in lithium-ion batteries to ensure that the batteries stay within safe operating temperatures.

Failed Market Cap Filter

L.B. Foster Company

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Laird Superfood

Nuclear Power

Laird sells plant-based foods like hydrate coconut water and renew plant-based proteins.

Failed Market Cap Filter

LanzaTech Global, Inc.

0.0391%

LanzaTech is an American company that finds commercial uses for waste carbon dioxide as a form of carbon sequestration.

Pure Play

Largo Inc.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Lear

Hybrid Cars

Lear makes some electrification products, but 94% of its revenue comes from supplying products for traditional automotive. It therefore fails our revenue filter.

Failed Revenue Filter

Lennox International

2.2234%

Lennox sells HVAC systems including high-efficiency heat pumps.

Passed Revenue Filter

Li Auto

2.5897%

Li Auto builds electric SUVs and luxury vehicles in China.

Pure Play

Li-Cycle Holdings Corp

Nuclear Power

Li-Cycle is a pure play in recycling that recycles lithium-ion batteries.

Failed Market Cap Filter

Lifezone Metals Limited

Recycled Metals

According to their 20f, Lifezone "do not expect to generate any revenue from our mining projects in the foreseeable future." so we exclude them

Lacked Sufficient Information

Lightbridge Corporation

Industrial Recycling

Lighbridge focuses on the development of metallic nuclear fuels, which are safer and more economical, while effectively reducing carbon emissions.

Failed Market Cap Filter

Lilium N.V.

Recycling

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Limbach Holdings

Retrofit

Limbach provides a number of climate solutions, including energy audits and building retrofits, but they don√ït provide a revenue breakdown. We exclude them for lack of sufficient information.

Lacked Sufficient Information

Limoneira

Solar, PVs

Limoneira grows a number of crops, including avocados, a perennial staple crop that√ïs a climate solution. But since avocados only account for 4% of its total revenue, it fails our revenue filter.

Failed Revenue Filter

Lindsay

Electric Cars

Lacked Sufficient Information

Liquidity Services, Inc.

0.1026%

Lithium Americas (Argentina) Corp.

Pure Play

0.0566%

Lithium Americas is a pure play lithium miner. Lithium is a key resource for lithium ion batteries, a critical climate solution

Passed Mining Filter

Lithium Americas Corp

0.0566%

LAC is a pure-play lithium mining company focused on extracting and refining battery-grade lithium.

Passed Mining Filter

Littelfuse

LED

Lacked Sufficient Information

Livewire

0.1007%

Livewire is an electric motorcycle company that was spun off from Harley Davidson.

Pure Play

LKQ

0.9778%

LKQ scraps totaled cars and sells the reclaimed replacement parts, helping reduce automotive waste.

Pure Play

Lobo EV Technologies Ltd.

Electric Aviation

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Loop Industries

Industrial Recycling

Loop converts waste plastics into virgin quality plastic.

Failed Market Cap Filter

Lotus Technology Inc.

0.2654%

Lotus is a Chinese EV manufacturer that focuses on lifestyle vehicles in the fast-growing Chinese EV market.

Pure Play

LSI Industries

0.0598%

LSI makes 67% of its revenue from LEDs for lighting used in parking garages and restaurants.

Passed Revenue Filter

Lucid Group, Inc.

1.0262%

Lucid is a pure play that makes electric cars and battery systems.

Pure Play

Magnachip Semiconductor

LED

Failed Revenue Filter

MasTec

Grid Expansion

MasTech promotes wind and solar energy as well as grid flexibility. But since these climate solutions make up less than 50% of total revenue, it fails our revenue filter.

Failed Revenue Filter

Maxeon Solar Technologies

Solar, PVs

Maxeon sells solar panels and other related components.

Failed Market Cap Filter

MDU Resources Group

Electrical Utility

Failed Utility Filter

Mesabi Trust

Critical Minerals

Anderson refines corn into ethanol, which is a Climate solution, but it’s a very small part of its revenue. It fails the revenue filter.

Failed Mining Filter

Metallus Inc

0.0608%

Metals Acquisition Limited

Pure Play

0.0747%

MTAL is a mining company that generates over 96% of its revenue from copper, a key mineral in the energy transition that is also infinitely recyclable.

Passed Mining Filter

MGE Energy

Electrical Utility

MGE produces 76.2% of its energy from fossil fuels and 23.8% from renewables (wind and solar), thus failing our defense filter

Failed Utility Filter

Microvast Holdings Inc

Energy Storage

Microvast is a pure play that designs and manufactures EV battery and energy storage with ultra-fast charging capabilities.

Failed Market Cap Filter

Montauk Renewables

0.0651%

Geothermal

Montauk is an electric utility that's purely focused on generating electricity. 100% of the electricity it generates comes from biogas, which is a renewable source.

Pure Play

Montrose Environmental Group

Telepresence

Failed Revenue Filter

MP Materials Corp.

0.3417%

MP is mining company focused on rare earth extraction and processing in the Western Hemisphere. Rare earth elements are critical minerals for the energy transition.

Passed Mining Filter

Mueller Industries

Water Distribution

No Drawdown Solution

Mueller Water Products

Mass Transit

Mueller Water Products sells water leak detection systems but these make up a small portion of its overall revenue. It fails our revenue filter.

Failed Revenue Filter

Mullen Automotive, Inc.

Electric Cars

Mullen is a pure play EVs manufacturer with both personal and comercial products in development.

Failed Market Cap Filter

MYR Group

0.2461%

MYRG offers a wide range of products to the electric utility industry, but it doesn√ït give a precise breakdown between these products. We exclude it for lacking sufficient information.

Passed Revenue Filter

N2OFF, Inc.

EV Supply Chain

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

NaaS Technology Inc.

Recycling

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

NACCO Industries, Inc.

Mass Transit

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

NANO Nuclear Energy Inc.

0.1219%

Pure Play

National Grid

Electrical Utility

Lacked Sufficient Information

NeoVolta Inc.

Carbon Management

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Newmont Corporation

Critical Minerals

Failed Mining Filter

NexGen Energy

0.6188%

NextEra Energy Partners, LP

NexGen explores and develops uranium projects in Canada.

Pure Play

NextEra Energy

Electrical Utility

NextEra Energy is an electric utility. The fail our Green Utilities filter because only 22%-23% of the electricity they transmit on its power lines comes from clean sources (must be >50%).

Failed Utility Filter

0.1792%

NextEra Energy Partners is an yieldco that generates 73% of its total revenue from electricity generation. 90% of the electricity it generates comes from renewable sources.

Pure Play

Nextracker Inc.

0.5904%

NextTracker is a pure play solar tracking company that enables solar farms to automatically follow the arc of the sun for optimal performance.

Pure Play

Nikola

Critical Minerals

Nikola is an electric car pure play that makes electric and hydrogen fuel cell heavy-duty commercial vehicles as well as clean energy solutions.

Failed Market Cap Filter

NIO

1.0059%

NIIO builds electric SUVs and sedans in China with a subscription service for swappable batteries instead of conventional charching.

Pure Play

NiSource

Electrical Utility

Failed Utility Filter

Niu Technologies

Electric Two Wheelers

Niu is a pure play that makes electric scooters. It has over 800,000 active riders.

Failed Market Cap Filter

noco-noco Inc.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

NorthWestern

Electrical Utility

Northwestern is an electric utility that produces 46% of its power from renewables and the rest from fossil fuels including coal. It fails our utility and coal filters.

Failed Utility Filter

Nouveau Monde Graphite Inc.

Telepresence

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Nova Minerals Limited

District Heating

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Novonix Limited

0.0430%

Arc Smelting

Novonix is an Australian company that makes a range of advanced battery materials for the EV and energy storage battery industries

Pure Play

NRG Energy

Electrical Utility

NRG is an electric utility that generates 92% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Nucor Corporation

2.8981%

NuScale Power Corporation

Nucor is a steel maker that uses scrap steel as primary raw material, and it produces steel using the more efficient electric arc furnaces. 92.9% of its revenue comes from these solutions.

Passed Revenue Filter

0.6182%

NuScale is a nuclear pure play that builds and sells light water small modular reactor that range from 77MW to 924MW.

Pure Play

Nuvve Holding

Electric Cars

Nuuve sells vehicle-to-grid technology that allows EV owners to store and resell energy to the grid.

Failed Market Cap Filter

NV5 Global

Critical Minerals

Lacked Sufficient Information

nVent Electric

Wind Power

Failed Defense & Revenue Filter

Nvidia

Water Distribution

Nvidia sells graphics processing units, application programming interface for data science and high-performance computing. Since they are not a telepresence pure play, they are excluded.

No Drawdown Solution

NWTN Inc.

Land Management

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

NXP Semiconductors

Water Distribution

NXP sells technology solutions to the automotive, industrial, Internet of Things, mobile, and communications infrastructure markets. But they don√ït offer any climate solutions.

No Drawdown Solution

Nxu, Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Oatly Group

0.0434%

Oatly sells plant-based dairy products made from oats.

Pure Play

Oblong, Inc.

Solar, PVs

Failed Market Cap Filter

Ocean Power Technologies

Critical Minerals

Failed Market Cap Filter

OGE Energy

Electrical Utility

OGE is an electric utility that generates 93% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Oklo Inc.

0.3748%

Oklo Inc. designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services.

Pure Play

ON Semiconductor

Electrical Utility

ON makes semiconductors for many industries, including EV charging infrastructure. But we exclude them because they don√ït provide a revenue breakdown for each of its end-markets.

Lacked Sufficient Information

OPAL Fuels Inc.

0.0591%

Opal fuels makes renewable natural gas which is a drop in replacement for natural gas derived from fossil fuels but is derived from contemporary sources like anaerobically digesting cow manure.

Pure Play

Oracle

Electrical Utility

Oracle provices products and services that address enterprise information technology environments. Since they√ïre not a telepresence pure play, it fails the telepresence filter.

Failed Telepresence Filter

Origin Materials, Inc.

Electric Cars

Origin Materials is a bioplastics pure play that converts sustainable feedstocks into plastics that can replace petroleum-based plastics.

Failed Market Cap Filter

Orion Energy Systems

LED

Orion Energy is an LED lighting pure play and also works on retrofit projects.

Failed Market Cap Filter

Ormat Technologies

0.4261%

Ormat produces geothermal energy systems that enable utilities to generate electricity using the heat from the earth.

Pure Play

Otter Tail

Electrical Utility

Otter Tail is an electric utility that generates 72% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Owens Corning

1.5027%

Owens Corning makes building and construction materials. It make insulation, but this accounts for only 27% of its revenue, so it fails our revenue filter.

Passed Revenue Filter

Pampa Energía

Electrical Utility

Pampa is an electric utility that generates 78% of its power from fossil fuels. It fails our utility filter.

Failed Utility Filter

Paramount Gold Nevada Corp.

Critical Minerals

Failed Mining Filter

Pentair

Water Distribution

Lacked Sufficient Information

Perma-Fix Environmental Services

Energy Storage

Perma-Fix promotes nuclear power through the treatment of nuclear waste and technical services like radiological measurement.

Failed Market Cap Filter

Perma-Pipe International Holdings

Electric Cars

Failed Revenue Filter

PG&E

Electrical Utility

While 93% of the electricity PCG transmits is clean, only 45% of the energy the generate is clean, and 25% of its revenu comes from the sale of natural gas.

Failed Utility Filter

Phoenix Motor Inc.

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Piedmont Lithium Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Pineapple Energy Inc.

Efficient Shipping

Failed Market Cap Filter

Pinnacle West Capital

Electrical Utility

Pinnacle is an electric utility that generates 78% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Pioneer Power Solutions, Inc.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Planet Green Holdings

Biomass

Planet Green makes ethanol, tea, chemicals and other products. It fails our biofuel filter, which requires that advanced biofuels make up more than 50% of a company√ïs biofuel production.

Failed Biofuel Filter

Platinum Group Metals Ltd.

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Plug Power

0.2937%

Polestar Automotive Holding UK PLC

Plug Power makes hydrogen fuel cell solutions through hydrogen fueling systems, proton exchange membrane technologies, and more.

Pure Play

PNM Resources

Nuclear Power

PNM is an electric utility that generates 56.4% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Polar Power

Ocean Power

Failed Market Cap Filter

0.2462%

Polestar is a prominent EV design and manufacturing company, focusing on high-end EVs, based out of Sweden.

Pure Play

Portland General Electric

Electrical Utility

Portland GE is an electric utility that generates 62% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

POSCO Holdings Inc.

Heat Pumps

PKX derives most of its revenue from steel, but they derive it from virgin materials, not recycled steel, so it fails our recycled metals filter.

Failed Revenue Filter

Power Integrations

LED

Power Integration sells integrated circuits and other electronic circuitry. Applications include LED lighting, but this is a small part of its revenue. It fails our revenue filter.

Failed Revenue Filter

PPL

Electrical Utility

PPL is an electric utility that generates ~99% of its power from fossil fuels, including coal. It fails our utility and coal filter.

Failed Utility Filter

Preformed Line Products

0.0635%

Efficient Irrigation

Preformed Line Products makes 66% of its revenue from improving grid flexibility by maintenance of energy networks.

Passed Revenue Filter

Public Service Enterprise Group

Electrical Utility

PSEG is a utility that generates ~64% of its power from fossil fuels. It fails our utility filter.

Failed Utility Filter

PureCycle Technologies

0.1915%

Quanex Building Products Corporation

PureCycle converts waste plastics into virgin quality plastic.

Pure Play

QualTek Services Inc.

Electrical Utility

QualTeck has a renewables infrastructure business, but this only accounts for 5% of its revenue, hence failing the revenue filter.

Failed Revenue Filter

0.1126%

Passed Revenue Filter

Quanta Services

4.9551%

Quanta Services gets 69% of its revenue from improving grid flexibility by maintaining electric power transmission, distribution infrastructure, and substation facilities.

Passed Revenue Filter

QuantumScape

0.3450%

QuantumScape is a pure play in solid-state lithium-metal batteries, some of which are used in EVs.

Pure Play

Quest Resource

Plant-based diet

Quest is a recycling pure play that recycles a variety of items, like scrap tires, metal and glass.

Failed Market Cap Filter

Radius Recycling

0.0425%

Pure Play

Rail Vision Ltd.

Industrial Recycling

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Renew Energy Global PLC

0.2618%

ReNew Power is a clean energy pure play that owns utility-scale wind, solar and hydropower assets totaling over 12GW of generating capacity.

Pure Play

Republic Services

5.0000%

Republic makes part of its revenue from recycling, a climate solution. But because this accounts for only 3.7% of its total revenue, so it fails our recycling filter.

Passed Landfill Filter

Research Frontiers

Dynamic Glass

Research Frontiers makes suspended particle device light control technology that undergirds dynamic glass technology, which helps enhance energy efficiency in buildings.

Failed Market Cap Filter

ReTo Eco-Solutions

EV Infrastructure

ReTo Eco-Solutions makes environmentally friendly construction materials using less carbon-intensive alternative materials.

Failed Market Cap Filter

REX American Resources

Biofuels

Failed Biofuel Filter

Rivian Automotive, Inc.

1.6412%

Shoals Technologies Group

Rivian is a pure play that makes electric pickup trucks, SUVs, and EV charging solutions.

Pure Play

Roper Technologies

Water Distribution

No Drawdown Solution

Safe & Green Holdings Corp.

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

SAIHEAT Limited

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

SemiLEDs

LED

SemiLEDs sells LED chips, components and modules which are used for general lighting.

Failed Market Cap Filter

Sempra Energy

Electrical Utility

Sempra Energy is an energy utility. Only 29.5% of its electricity generation is clean, and 57.6% of its total revenue comes from gas distribution. We therefore exclude them from the Climate Index.

Failed Utility Filter

SES AI Corporation

Electric Cars

SES is an energy storage pure play that builds high-performance lithium-ion batteries and EVs and other applications.

Failed Market Cap Filter

0.1020%

Sigma Lithium Corporation

Shoals sells electrical balance of system solutions for solar energy projects.

Pure Play

0.2115%

Sigma Lithium explores and develops lithium mining sites in Brazil. Lithium is a critical mineral for the energy transition, particularly for batteries.

Passed Mining Filter

Snow Lake Resources Ltd.

EV Infrastructure

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Sociedad Química y Minera de Chile S.A.

Energy Storage

While SQM does mine for some critical minerals, they do not disclose the breakdown between those and others (like gold and silver) so we exclude them for lack of information.

Lacked Sufficient Information

SolarBank Corporation

EV Supply Chain

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

SolarEdge Technologies

0.0966%

SolarEdge sells DC inverter systems for solar PVs, EV charging solutions, lithium-ion cells and batteries, and power supply solutions.

Pure Play

SolarMax Technology, Inc.

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Solid Power, Inc.

EV Infrastructure

Failed Market Cap Filter

Solidion Technology Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Solitario Zinc Corp.

Plant-based diet

XPL is a mineral exploration company. While it does explore for some critical minerals, its main focus is gold which is not a mineral critical to the energy transition.

Lacked Sufficient Information

Southern Copper Corp

5.0000%

96% of SCCO's revenue comes from the extraction and sale of the critical minerals: copper, molybdenum, and zinc.

Passed Mining Filter

SPI Energy

Solar, PVs

SPI Energy builts solar projects for power producers, owns its own solar projects, and makes EVs and EV charging infrastructure.

Failed Market Cap Filter

SPRU (XL Fleet)

Bioplastics

Spruce Power sells solar charging of cars a service, as well as battery packs and other key components to clean electrification.

Failed Market Cap Filter

SRIVARU Holding Limited

Electrical Utility

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Standard Lithium Ltd.

Electric Cars

Standard Lithium failed our fraud filter: https://hindenburgresearch.com/standard-lithium/

Failed Fraud Filter

Stardust Power Inc.

0.0190%

Stardust Power Inc. is a vertically-integrated lithium refinery that engages in producing battery-grade lithium. The company was founded in 2022 and is based in Greenwich, Connecticut.

Passed Mining Filter

Steakholder Foods Ltd (MITC MeaTech 3D)

Plant-based diet

Meatech 3D develops cultured meat products without animal slaughtering.

Failed Market Cap Filter

Steel Dynamics, Inc.

1.8482%

Sunnova Energy International

Steel Dynamics is a steel producer and metal recycler. It produces steel using scrap metal and electric arc furnace technology, which is much more energy efficient than blast furnace.

Passed Revenue Filter

Steel Partners Holdings

Solar, Hot Water

Lacked Sufficient Information

Stellantis N.V.

Electrical Utility

Stellantis produces some EVs, but they don√ït provide a revenue breakdown between its EV and internal combustion vehicle offerings. We exclude them because they lack sufficient information.

Lacked Sufficient Information

Stem

Energy Storage

Stem helps buildings to switch from onsite, to stored, to grid electricity with its AI-powered platform.

Failed Market Cap Filter

Sterling Construction

Wind Power

No Drawdown Solution

0.0570%

Sunnova is a leading residential solar PV company in the US

Pure Play

SunOpta

0.0919%

SunOpta sells plant-based foods and beverages from almond, soy, coconut, oat, or hemp.

Pure Play

Sunrise New Energy Co., Ltd.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Sunrun

0.2518%

Sunrun sells solar energy systems like panels, and energy storage systems, primarily to residential customers.

Pure Play

Surf Air Mobility Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Swvl Holdings Corp.

Electric Cars

Failed Market Cap Filter

SYLA Technologies Co., Ltd.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Tantech Holdings Ltd

Carbon Management

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Tata Motors

Waste To Energy

Tata Motors makes some EVs, but these only account for about 23% of its total revenue. It fails our revenue filter.

Failed Revenue Filter

Teck Resources Ltd Class B

Critical Minerals

Failed Mining Filter

Tecnoglass

0.3743%

Tecnoglass sells high-performance windows.

Passed Revenue Filter

Tesla

5.0000%

Tesla makes EVs, solar energy generation, and energy storage products.

Pure Play

Tetra Tech

Electric Cars

Failed Defense Filter

The AES

Electrical Utility

AES is an electric utility that produces 57% of its power from fossil fuels (including coal) and the rest from renewables. It fails our utility and coal filters.

Failed Utility Filter

The Hain Celestial Group

0.0517%

TMC the metals company Inc.

Hain sells a variety of plant-based snack products like tortilla chips, whole grain chips, and pita chips, plant-based beverages, plant-based meat-alternative products.

Passed Revenue Filter

The Lion Electric

Electric Cars

Lion Electric sells all-electric medium and heavy-duty urban vehicles like trucks and buses to electrify mass transportation.

Failed Market Cap Filter

The Southern

Electrical Utility

The Southern is an electrical utility that generates 72% of its power from fossil fuels. It fails our utility filter.

Failed Utility Filter

Thunder Power Holdings, Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Tigo Energy, Inc.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

0.0401%

Passed Mining Filter

TopBuild

0.9651%

TopBuild sells insulation products for buidlings

Passed Revenue Filter

TOYO Co., Ltd.

Critical Minerals

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Toyota Motor

LED

Toyota makes some EVs but makes most of its revenue from traditional internal combustion vehicles. It fails our revenue filter.

Failed Revenue Filter

TPI Composites

Wind Power

TPI makes 96% of its revenue from composite wind blades, related precision molding and assembly systems

Failed Market Cap Filter

Trane Technologies

Building Automation

Lacked Sufficient Information

TransAlta

Electrical Utility

TransAlta is an electric utility that generates 41.7% of its power from gas and 38.3% from renewables. It fails our utility filter.

Failed Utility Filter

Trilogy Metals Inc.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Tronox Holdings PLC

Critical Minerals

Tronox produces titanium dioxide, a pigment for making products white, not a critical mineral.

Failed Mining Filter

Turbo Energy, S.A. American Depositary Shares

Industrial Recycling

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Tutor Perini

Nuclear Power

Tutor Perini is a construction company. It builds military defense facilities so it fails our defense filter.

Failed Defense Filter

U Power Limited

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

U.S. Gold Corp.

Electric Cars

Failed Mining Filter

U.S. GoldMining Inc.

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Ultralife

Fuel Cells

Ultralife makes a majority of its revenue from EVs and energy storage. But it fails our defense filter because it sells batteries specifically designed for military combat and communications.

Failed Market Cap Filter

Unifi, Inc.

Electric Two Wheelers

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Unitil

Energy Storage

Lacked Sufficient Information

Universal Stainless & Alloy Products, Inc.

Nuclear Power

Lacked Sufficient Information

Ur-Energy

0.0641%

Ur-Energy explores uranium mineral properties in 12 projects in the US.

Pure Play

Uranium Energy

0.3316%

Uranium Energy extracts and processes uranium.

Pure Play

Uranium Royalty Corp.

0.0446%

Uranium Royalty is a pure-play uranium mining company that primarily mines for uranium in Canada. Uranium is needed to power nuclear energy, a fossil-fuel free power source.

Passed Mining Filter

US Antimony

EV Infrastructure

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Valmont Industries

0.6310%

Valmont makes irrigation efficiency and grid flexibility solutions, both of which are climate solutions.

Passed Revenue Filter

Vast Renewables Limited

Energy Storage

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Veeco Instruments

Alternative Cement

Lacked Sufficient Information

Verde Clean Fuels, Inc.

Electric Aviation

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Vertex Energy, Inc.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Vertical Aerospace Ltd.

Solar, PVs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Vertiv Holdings

Wind Power

Vertiv helps improve grid flexibility, but it has customers in the oil and gas industry. It√ïs not clear how much revenue they get from these customers.

Failed Revenue Filter

Via Renewables

Insulation

Via Renewables is a retail distributor of electricity and gas. But it doesn√ït give information about the sources of the electricity it purchases. We exclude it for lacking sufficient information.

Failed Utility Filter

Vicinity Motor Corp.

Electric Boats

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Vicor

Mass Transit

Vicor sells defense electronics used in airborne, seaborne, or field communications and radar, which fails our defense filter.

Failed Defense Filter

Village Farms International

Methane Capture

Village Farms operates a methane digester power plant and sells the electricity it generates. But since this accounts for less than 1% of its total revenue, it fails our revenue filter.

Failed Revenue Filter

VinFast Auto Ltd.

1.0529%

VinFast is a Vietnamese electric car manufacturer that generates all of its revenue from developing and selling EVs

Pure Play

Vision Marine Technologies Inc.

Solar, Pvs

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

Vistra

Electrical Utility

Vista is an electric utility that generates ~93% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Vita Coco Co Inc

Plant-based diet

Vita Coco sells coconut water in different variations. But since its products aren√ït replacements to meat-based foods, it fails the plant-based food filter.

Failed Plant-Based Diet Filter

Vivint Smart Home

Net-zero building

Vivint sells cloud-enabled smart home operating systems that enable homeowners to run its HVAC and other systems with less energy. But it doesn√ït give a revenue breakdown between its products.

Lacks Proper Information

VivoPower International

Electrical Utility

Vivo Power provides EVs, critical power services, battery and microgrid technology and solar power. These products and services account for nearly 100% of its revenue.

Failed Market Cap Filter

Volcon

Telepresence

Volcon is an electric car pure play that builds electric motorcycles, off-road powersports vehicles, and utility terrain vehicles.

Failed Market Cap Filter

Wallbox NV

Electric Two Wheelers

Wallbox is an EV infrastructure pure play that makes EV charging systems that allow communication between user, vehicle, grid, building and charger.

Failed Market Cap Filter

Waste Connections

4.5415%

Azure Power is an electric utility that is focused on generating clean electricity. 100% of Azure Power's revenue comes from generating renewable power.

Passed Landfill Filter

Waste Management

5.0000%

Waste Management has methane capture systems at 144 out of 260 landfill in operations. Since it has methane capture systems at more than 50% of these landfill sites, WM passes our landfill filter.

Passed Landfill Filter

Watsco, Inc.

Smartgrid

Failed Revenue Filter

Watts Water Technologies

0.6889%

Watts makes 52% of its revenue from residential and commercial leak detection and water quality monitoring products

Passed Revenue Filter

WEC Energy Group

Electrical Utility

WEC is an electric utility that generates 89% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

WESCO International

Grid Expansion

WESCO sells basic grid upgrade equipment, smart grid products, transformers and distribution hardware, but these products only account for 26.8% of its total revenue. It fails our revenue filter.

Failed Revenue Filter

Westinghouse Air Brake Technologies

Smart Thermostat

Failed Revenue Filter

Westwater Resources

SmartGrid

Westwater Resources is a pure play in battery-ready graphite materials, a key component in battery construction.

Failed Market Cap Filter

Whole Earth Brands

Water Distribution

Whole Earth Brands makes plant-based consumer packaged goods, but it also makes flavored products used by the tobacco industry, thus failing the tobacco filter

No Drawdown Solution

Willdan Group

0.0552%

Wildan provides consulting services to help clients achieve its energy efficiency goals, grid optimization, emissions reduction, and building retrofits.

Passed Revenue Filter

Workhorse Group

Recycling

Workhorse is an EV manufacturer but is currently under investigation for insider trading. We exclude them because it fails our fraud filter.

Failed Fraud Filter

Xcel Energy

Electrical Utility

Xcel is an electric utility that generates 51% of its power from fossil fuels, including coal. It fails our utility and coal filters.

Failed Utility Filter

Xos, Inc.

Recycling

XOS Truck is an EV pure play that makes electric drivetrains for trucks as well as medium- and heavy-duty electric trucks.

Failed Market Cap Filter

XPeng

0.9328%

ZEEKR Intelligent Technology Holding Limited

XPeng sells EVs, including sedans, for the Chinese market.

Pure Play

Xylem

Water Distribution

Xylem makes water leak detection and remote monitoring solutions, but these account for much less than 50% of its total revenue. It fails our revenue filter.

Failed Revenue Filter

Zapp Electric Vehicles Group Limited

Electric Trains

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

0.7102%

Zoom Video Communications

ZEEKR is a Chinese manufacturer of electric cars and electric car parts like drivetrains.

Pure Play

Zeo Energy Corp.

Electric Cars

We're keeping an eye on them, but as of last annual rebalance, they fell below our $250m market cap exclusion.

Failed Market Cap Filter

2.5823%