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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 171 Fortistar, a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges, announced today it joined an equity investment of up to $157 million in BayoTech, Inc., an emerging global leader in on-site hydrogen production, which was led by Newlight Partners LP. The financing round includes existing investors Cottonwood Technology Funds and the New Mexico State Investment Council under a fund managed by Sun Mountain Capital. The funds 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 a 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 glob ....
Modular SMR hydrogen producer BayoTech receives $157M investment BayoTech, Inc., a provider of on-site hydrogen production, received an equity investment of up to $157 million from Newlight Partners LP, 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 provides modular hydrogen generation systems using energy-efficient steam methane reformers (SMR). Current containerized BayoTech systems produce hydrogen at a rate of 200 kg H 2, 500 kg H 2 and 1,000 kg H 2 per day. The company is developing systems capable of producing 5,000 kg, 10,000 kg and 30,000 kg of hydrogen per day. ....