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

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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