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Nova Biosource Fuels, Inc. (Amex: NBF) announced today that it has been added to this year's reconstitution of the Russell 3000 Index and the Russell Microcap Index maintained by Russell Investment Group. The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market. The Russell Microcap Index measures the performance of the microcap segment, representing less than 3% of the U.S. equity market. The Russell Microcap Index includes the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next 1,000 securities and the median market capitalization of its constituents is approximately $249 million.
"We are delighted to have been added to the Russell 3000 and Russell Microcap Indices," said Kenneth T. Hern, Chairman and Chief Executive Officer of Nova. "Including Nova Biosource Fuels in these indices will enhance our visibility among investors, provide an opportunity to broaden our shareholder base and provide investors an opportunity to invest in renewable fuels in a diversified manner."
About Nova Biosource Fuels, Inc.
Nova Biosource Fuels, Inc. is an energy company that refines and markets ASTM standard biodiesel and related co-products. Nova is now focused on the construction and operation of three biodiesel refineries, with production capacity of between 180 to 220 million gallons of biodiesel fuel on an annual basis. Nova's business strategy for the next three years includes building up to seven biodiesel refineries with production capacities ranging from 20 to 100 million gallons each per year. All of Nova's refineries will use its proprietary, patented process technology, which enables the use of a broader range of lower cost feedstocks. More information on Nova Biosource Fuels can be found at http://www.novabiosource.com.
Shares are up 3% to $2.71 with over 400,000 in volume.
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