HYBAR WELCOMES QUANTA SERVICES AS A NEW EQUITY PARTNER

Core Insights - Hybar LLC is developing an environmentally sustainable scrap metal recycling steel rebar mill in northeast Arkansas, with a recent strategic equity investment from Quanta Services, Inc. [1][4] - Quanta Services specializes in infrastructure solutions across various industries, aligning its expertise with Hybar's goal of producing sustainable steel rebar [2][4] - The first steel rebar mill is set to begin operations within a year, powered by a 105 MW solar field and battery storage, and will support large infrastructure projects [3][4] Company Developments - Quanta Services joins a group of high-profile investors in Hybar, including TPG Rise Climate and Koch Minerals & Trading, enhancing Hybar's financial backing [1][4] - The collaboration aims to ensure a domestic sustainable supply of materials for Quanta's projects at competitive prices [4] - Hybar's innovative mill design is expected to significantly reduce greenhouse gas emissions in steelmaking, attracting interest from leading companies in the energy sector [5] Industry Context - The mill will produce high-yielding steel rebar primarily for large infrastructure projects, including those supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act [3] - Hybar is exploring the production and use of green hydrogen and the substitution of steel slag for cement in concrete materials, indicating a commitment to sustainable practices [5]