COSTA MESA, Calif. (BUSINESS WIRE)
Rove will set a new standard in EV charging with a premium, customer-centric experience. Focused on fast, smart, and relia
BayoTech Secures Private Equity to Expand Hydrogen Production Offerings
Albuquerque-based BayoTech Inc., an on-site hydrogen production company, said it has secured a $157 million investment from private equity firm Newlight Partners LP.
Other investors including Cottonwood Technology Funds, Sun Mountain Capital and Fortistar also are backing growth, according to BayTech, to increase project development and expand infrastructure.
“Advances in fuel cell technology are driving demand for hydrogen in emerging applications, including in the materials handling, mobility and power sectors, where demand tends to be more distributed,” Newlight partner Mark Longstreth said.
“BayoTech’s innovative approach to on-site hydrogen generation ensures that these end-users, who are not well served by the incumbent industrial gas players, are able to get on-demand hydrogen at a competitive price.”
Posted on 206
BayoTech, Inc. (“BayoTech”), a global leader in on-site hydrogen production, today announced it has received an equity investment of up to $157 million from Newlight Partners LP (“Newlight”), a growth equity investor, with participation from existing investors Cottonwood Technology Funds, Sun Mountain Capital and new investor Fortistar. The proceeds will be used to accelerate BayoTech’s strategic growth through product development, project development and infrastructure expansion.
BayoTech is an energy solutions company committed to addressing the global need for consistent, cost-effective, low-carbon supply of hydrogen. Hydrogen possesses many attributes that will drive long-term demand as a fuel source, including its role in global decarbonization efforts. Today, most hydrogen is produced at large, centralized facilities before being delivered to end users. BayoTech, through its on-site hydroge