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
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
USS, Nippon Steel quiet as litigation deadline approaches
There has been little word from U.S. Steel, Nippon Steel, or the White House since President Trump endorsed the companies’ “partnership” on social media and celebrated it at the May 30 rally outside Pittsburgh.
AISI: April mill shipments fall, sheet down YTD
US steel mills saw a decline in shipments from March to April.
Hybar rolls first rebar, ramping up Arkansas mill commissioning
The startup steelmaker produced its first rebar at its greenfield steel mill in Osceola, Ark., marking a key milestone by completing construction in 22 months.
Goncalves: Despite higher tariffs, two Cliffs mills to remain idled
Cleveland-Cliffs Chairman, President, and CEO Lourenco Goncalves said he would keep one mill idled and still plans to idle another despite increased protections from Section 232 tariffs doubling to 50%.