An Arkansas scrap metal recycling company is set to break ground on a second facility after completing a 10-figure fundraising round this week.
Hybar has raised $1.1 billion for a second steel rebar mill, which will be built next to its existing facility in Osceola. Work should take about 24 months.
The new facility will complement Hybar’s first mill, which was commissioned nine months ago and began turning a profit by its fourth month of operation. It joined a scrap metal recycling steel production mill, a solar and battery storage electrical energy facility and a port operation built by the company, which was founded in 2023.
Those facilities cost a total of nearly $1 billion and could produce more than 700,000 tons of rebar while powering the steel producer with 100% renewable energy.
When operational, the new facility will nearly double that capacity, allowing the company to produce 1.3 million tons per year. That represents nearly 13% of the domestic market. Plans are to sell rebar for data centers, medical campus expansions, energy infrastructure and road-related projects.
“We have best-in-class technology, a great site with three modes of transportation and outstanding, highly motivated employees,” said Dave Stickler, Hybar CEO. Empowering employees, stripping away bureaucracy, pushing decision-making down to the mill floor, and constantly looking for better, faster, more sustainable ways to make steel are the keys to Hybar’s success.”
The solar operation is run under Hybar’s sister company, Green & Clean Power, which is located adjacent to Hybar and feeds power directly into Hybar’s operations. Germany-based SMS Group will supply equipment.
The financing was led by Goldman Sachs & Co. and TPG Capital BD. Hybar and its related entities are owned by TPG Rise Climate, KM&T Hybar Holdings, Global Principal Partners and Quanta Services.
