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Electrovaya added to global solactive Global Lithium Index

Global X Funds has launched the first ever Lithium exchange traded fund on the NYSE Arca (ticker: LIT), which will passively track the Solactive Global Lithium Index.


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Inclusion within
the Solactive Global Lithium Index is based on strict requirements of
market capitalization, liquidity, and lithium production and/or battery
manufacturing focus. At launch, LIT’s basket was split nearly 50-50
between lithium producers and battery makers in seven different
countries.

"We
are very pleased that Electrovaya has been selected to join the world’s
first lithium exchange-traded fund," said Dr. Sankar Dasgupta,
Electrovaya’s Chief Executive Officer and Founder. "Given the increasing
demand for lithium as the auto industry shifts its focus to
lithium-powered hybrid and electric vehicles, we are delighted to
represent lithium battery manufacturers in this specifically targeted
window to our industry. We look forward to the increased visibility with
cleantech investors."

"Of
the existing ETFs that have a renewable energy play, there are few, if
any, that get at the movement from the raw, critical resource level like
the way this Global X Lithium ETF does," said Global X Funds CEO Bruno
del Alma.

The
Solactive Global Lithium Index is an industry benchmark for the global
Lithium mining and Lithium battery market. The index serves as the
underlying for the Global X Lithium ETF.

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