Hybar LLC, a company dedicated to building a technologically advanced and environmentally sustainable scrap metal recycling steel rebar mill in northeast Arkansas, has secured a strategic equity investment from Quanta Services, Inc. (PWR). This investment from Quanta Services joins Hybar’s existing impressive group of investors, including TPG Rise Climate, Koch Minerals & Trading, and Global Principal Partners.
Quanta Services, a leading specialized contracting services company, delivers infrastructure solutions across various sectors including utilities, renewable energy, technology, communications, pipelines, and energy. The company’s expertise spans designing, installing, repairing, and maintaining energy and communication infrastructure throughout the United States, Canada, Australia, and select international markets.
Hybar’s Chief Executive Officer, Dave Stickler, emphasized the alignment between Quanta’s expertise in large-scale infrastructure and renewable energy projects and Hybar’s commitment to producing the most environmentally sustainable steel rebar in North America.
Hybar’s first steel rebar mill, poised to begin operations within a year, will be powered by an adjacent 105 MW solar field and battery storage facility. The mill will also leverage a special rate contract with Entergy Arkansas, LLC, to ensure a sustainable energy source. This facility will produce a full range of high-yielding steel rebar, primarily for use in large infrastructure projects, including those supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.
Quanta Services expressed its enthusiasm about collaborating with Hybar’s management team and joining the company’s impressive investor group as Hybar expands its portfolio of energy-efficient sustainable steel mills. Redgie Probst, Quanta’s Chief Operating Officer, highlighted the investment’s alignment with their goal of ensuring a domestic, sustainable supply of materials for their projects at cost-effective pricing.
Mike Stone, Hybar’s Chairman and Partner at TPG, emphasized the significance of Quanta Services joining the Hybar family. He stated that this strategic investment validates Hybar’s innovative mill design and operating methods, which drastically reduce greenhouse gas emissions in the steelmaking process. These methods have attracted significant interest from leading companies and investors within the energy sector. With Hybar exploring the production and use of green hydrogen and the substitution of its steel slag for cement in concrete construction materials, Stone expressed confidence that the company will greatly benefit from Quanta’s expertise in clean energy and construction.
