Steel Mills

Hybar lands 'strategic' investment from Quanta Services
Written by Ethan Bernard
September 12, 2024
Hybar said that contracting services firm Quanta Services has made a “strategic” investment in the company as it constructs its sustainable rebar mill in northeast Arkansas.
Recall that CEO Dave Stickler told us last month at the 2024 Steel Summit that an important announcement was forthcoming: A Fortune 300 company had agreed to take a 20% stake in Hybar, allowing the company to accelerate growth and expansion plans.
A Hybar spokesperson confirmed on Wednesday that Stickler’s comments at the conference were referring to the Quanta investment. No further details of the deal were offered.
Quanta joins the project’s other equity investors, which include TPG Rise Climate, Koch Minerals & Trading, and Global Principal Partners, the investment entity used by Hybar’s senior management team.
Houston-based Quanta is a specialized contracting services company that delivers infrastructure solutions for the utility, renewable energy, technology, communications, pipeline, and energy industries.
“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,” Stickler said on Wednesday.
Hybar broke ground on its first steel rebar mill in August 2023 and expects operations there to begin less than a year from now. An adjacent 105-MW solar field and battery storage facility will power the facility. The company has secured a special-rate contract with Entergy Arkansas LLC.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

AISI: Raw steel production drops to multi-month low
After being historically strong for more than four months, US raw steel production fell for a second week.

U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.

August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.

TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.

Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.