Quanta Services joins Hybar investor group

Hybar LLC, an Osceola, Arkansas-based company building an electric arc furnace (EAF) steel rebar mill on a 1,300-acre site in that city, has announced that Quanta Services Inc. recently made a strategic equity investment in Hybar. Quanta joins Hybar’s existing group of equity investors that include TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform; Koch Minerals & Trading, a Koch subsidiary specializing in commodity trading and services; and Global Principal Partners, the investment entity used by Hybar’s senior management team.

Headquartered in Houston, Quanta is a specialized contracting services company that provides infrastructure solutions for the utility, renewable energy, technology, communications, pipeline and energy industries. The company’s services include designing, installing, repairing and maintaining energy and communications infrastructure throughout the U.S., Canada, Australia and other international markets.

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“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,” Hybar CEO Dave Stickler says.

The rebar mill, which Hybar expects to begin operations in less than a year, will be powered by an adjacent 105-megawatt solar field and battery storage facility and through a special rate contract entered into with Energy Arkansas LLC. Hybar says the mill will produce a full complement of high-yielding rebar that primarily will be used in large infrastructure projects, including those supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.

“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,” says Redgie Probst, Quanta’s chief operating officer.

Mike Stone, Hybar’s chairman and a partner at TPG, says, “Adding a strategic investor like Quanta Services to the Hybar family is further validation that Hybar’s mill design and operating methods—which will drastically reduce greenhouse gas emissions in the steelmaking process—are highly sought after by many of the leading companies and investors across the energy space. As Hybar continues to explore the production and use of green hydrogen, we believe Hybar will benefit significantly from Quanta’s expertise in clean energy and construction.”