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 hydrogen generators and “Gas-as-a-Service” offering, reduces or eliminates transportation and storage costs, which result in less energy wasted and a lower carbon footprint than traditional hydrogen production technology and electrolyzer-based systems. The company’s modular, scalable, and rapidly deployable hydrogen production systems require lower upfront capital commitments, streamlined siting and installation and, when paired with renewable natural gas (“RNG”), offer the most cost-effective green hydrogen available today.