BayoTech Receives 157 Million Equity Investment from Newlight Partners and other investors to Accelerate Strategic Growth
Summary
Hydrogen possesses many attributes that will drive long‐term demand as a fuel source, including its role in global decarbonization efforts. “Having previously worked with Newlight, I have experienced firsthand the strategic resources and value they bring to their partners as well as their team’s ability to understand and invest in new markets. “We are proud to be partnering alongside Mo and his talented team at BayoTech to support the company’s growth and bolster its position as a leading provider of sustainable and cost-effective hydrogen solutions as the global energy sector transitions to a less carbon-intensive future.” Wendy Rollstin, BayoTech’s Chief Financial Officer, added, “The new capital follows a year of significant growth for BayoTech, which announced agreements for hydrogen development projects with HYZON Motors, IGas Energy, Nutrien, and others, as well as filing four new patents in 2020. It invests in founding stage technology-related (particularly telecom, chemistry/material sciences, photonics, biosciences, robotics and new energy) businesses originating throughout the Southwest region of the US and also in Northern Europe. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing companies, first in power generation and now in mobility, carbon capture, the circular economy and other solutions that drive our transition to a zero-carbon future.