Indxx Hydrogen Economy Index Licensed to KB Asset Management for an Exchange Traded Fund
New York – February 15, 2022 – Indxx is pleased to announce the licensing of their Indxx Hydrogen Economy Index to KB Asset Management as the underlying benchmark for the KBSTAR Global Hydrogen Economy ETF (Ticker: 417450 KS Equity), launching today on the Korea Exchange.
The Indxx Hydrogen Economy Index (Ticker: IH2ECO) tracks the performance of companies that provide goods and/or services towards the Hydrogen Industry, including hydrogen generation and storage, transportation and supply of hydrogen, fuel cells, and hydrogen fueling stations.
“The demand for green hydrogen is growing at an unprecedented rate & the pipeline of new projects is also growing fast. As per Statista, the global hydrogen demand is also forecast to climb to over 500 million metric tons by 2070. It could play a pivotal role in decarbonizing the global economy.” said Rahul Sen Sharma, Managing Partner at Indxx. “Governments and corporations all around the world are scaling up their investments into the hydrogen-based projects and technologies. According to IEA, in order to achieve net zero emissions by 2050, the global clean energy investments must be tripled to $4 trillion by 2030. We are excited about our partnership with KB Asset Management to bring this sustainability focused strategy to the South Korean market.”
Added Chandan Kumar G V, Manager, Index Products at Indxx, “A radical & pragmatic shift towards a hydrogen-based economy would mean reduction in energy consumption & emissions, as well as stimulating economic growth and bringing about new jobs. According to CSIS Energy Security and Climate Change Program, South Korea sees hydrogen as a potential driver of economic growth worth ₩43 trillion and 420,000 new jobs. Our Hydrogen Economy Index provides exposure to leading companies that facilitate this change globally.”
Commenting on their licensing of the index, Keum Jeong Seop, Director at KB Asset Management, said, “Hydrogen has emerged as a crucial component in the global quest to achieve net-zero energy. We are delighted to partner with Indxx, to introduce this innovative strategy in South Korea. With the growing popularity of this theme in South Korea, we are confident that this fund will successfully meet the demands of the South Korean investors.”
As of February 15, 2022, the index has 30 constituents. The index has been back tested to November 30, 2018 and has a live calculation date of March 12, 2021. Additional information can be found here.
About Indxx
Founded in 2005, Indxx endeavors to deliver innovative and custom indexing and calculation solutions to the investment management community at large.
Indxx and products tracking our indices have been nominated for and received numerous awards, including ‘Best Index Provider - Emerging Markets ETFs’ at the ETF Express US Awards in October 2020 and ‘Most Innovative ETF Index Provider’ for the Americas at the 14th Annual Global ETF Awards in July 2018.
For more information about Indxx, please visit: http://www.indxx.com/
For further information about this press release, please contact:
Indxx Press & Media Relations Attention: Stoyan Bojinov