Siemens Energy on March 22, 2021, will be included in the DAX stock index of Germany’s 30 most important shares, Deutsche Boerse in Frankfurt said late Wednesday.

The company was spun off Siemens AG last year and in September 2020 had a €16bn ($19.3bn) debut on the Frankfurt stock exchange as an independent company, where so far it had been trading in the Prime Standard.

“The fact that we will become a DAX member so soon after our initial listing on the stock exchange is a great recognition of our company’s proposition and the commitment of our employees,” Siemens Energy chief executive Christian Bruch said.

“As a leading energy technology company, we want to actively shape the energ transition and grow profitably. Becoming a DAX member is a motivation for all of us to consistently pursue this goal for the benefit of our stakeholders."

The new energy giant bundles the former Siemens gas and power segment (mainly gas turbines) and owns the majority in wind turbine manufacturer Siemens Gamesa.

Siemens Energy is also increasingly betting on green hydrogen technologies, in part jointly with Siemens Gamesa by placing electrolysers to produce hydrogen from wind power directly at offshore wind turbines.

Siemens Energy shares fell 1.7% to €29.99 in early trading Thursday at the Frankfurt stock exchange, compared to a decline of 0.55% of the DAX.

The DAX in September will be widened to 40 instead of 30 stocks.