Alternative Investments/ESG: Horizons Launches Lithium and Hydrogen ETFs for Exposure to Future Clean Energy Technologies
The new funds join Horizons’ Uranium ETF, giving shape to its suite of alternative energy ETFs.
Horizons ETFs launches the Horizons Global Lithium Producers Index ETF (HLIT), and the Horizons Global Hydrogen Index ETF (HYDR) on the Toronto Stock Exchange. The new lithium and hydrogen ETFs are each a category-first in Canada. (ETF Express)
Global Lithium Producers Index ETF (HLIT)
This ETF tracks the performance of the Solactive Global Lithium Producers Index which is designed to provide exposure to the performance of global, publicly listed companies engaged in the mining and/or production of lithium, lithium compounds, or lithium-related components.
Lithium is the world’s lightest metal and is essential for manufacturing lithium-ion batteries that are used in electrical vehicles and renewable energy storage. Lithium miners are having to rapidly scale up their operations to meet the rising and unprecedented demand for the metal.
“By 2030, demand for lithium is expected to more than triple, in part due to the continued global transition to electric vehicles from traditional fossil fuel-based vehicles,” says Steve Hawkins, President and CEO of Horizons ETFs. “That effort will not happen without lithium, ensuring its importance for decades to come.
Global Hydrogen Index ETF (HYDR)
This ETF tracks the performance of the Solactive Global Hydrogen Industry Index which is designed to provide exposure to the performance of global, publicly listed companies engaged in the development and production of fuel cell technology and equipment, as well as infrastructure, components, and systems for hydrogen generation, storage, and transportation.
Hydrogen fuel cells are two- to three- times more efficient than internal combustion engines running on gasoline. Hydrogen is therefore seen as a potential alternative fuel source for the decarbonization of the global economy.
“The increased rollout of hydrogen-fuelled heavy-duty vehicles could become a key opportunity for the continued transition towards lower-carbon and more sustainable alternative energy sources,” said Hawkins.
Related Story: Horizons ETFs Launches Global Green Bond ETF
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