Quanta Services is a leading specialized contracting services company that delivers infrastructure solutions for the utility, renewable energy, technology, communications, pipeline, and energy industries. Quanta's services include designing, installing, repairing, and maintaining energy and communications infrastructure throughout the United States, Canada, Australia and select other international markets. "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
Hybar's first steel rebar mill, which is expected to begin operations in less than a year, will be powered by an adjacent 105 MW solar field and battery storage facility and through a special rate contract entered into with Entergy (NYSE:ETR) Arkansas, LLC. The mill will produce a full complement of high-yielding steel rebar that will primarily be used in large infrastructure projects, including projects supported by the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.
Quanta Services looks forward to collaborating with the Hybar management team and is excited to join Hybar's high-quality group of equity investors as the company pursues its growth initiatives of building and operating a portfolio of energy efficient sustainable steel mills. "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," commented
This press release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This press release may contain forward-looking statements, including, but not limited to, the expansion project and financing plans, including the offering of the bonds and equity financing. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, except as required by law.