Hybar Adds Equity Investor
09/11/2024 - Infrastructure services provider Quanta Services has made a strategic equity investment in startup rebar manufacturer Hybar LLC.
“Quanta’s expertise in developing large-scale infrastructure and renewable energy projects lines up well with Hybar’s objective of producing the most environmentally sustainable steel rebar in North America,” said Dave Stickler, Hybar’s chief executive officer.
Hybar is building its first mill in Arkansas, and the facility is expected to begin operations in less than a year. It will produce a full complement of high-yielding steel rebar that will primarily be used in large infrastructure projects, including projects supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.
Hybar said the mill will be powered by an adjacent 105 MW solar field and battery storage facility and through a special rate contract entered into with Entergy Arkansas LLC.
“Quanta’s investment in Hybar provides an attractive growth opportunity and supports our goal of ensuring domestic sustainable supply of materials for our projects at cost effective pricing in the market,” said Redgie Probst, Quanta’s chief operating officer.