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 H2, 500 kg H2 and 1,000 kg H2 per day. The company is developing systems capable of producing 5,000 kg, 10,000 kg and 30,000 kg of hydrogen per day.
BayoTech is 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.
BayoTech’s hydrogen generation systems produce local hydrogen close to the application. This saves customers money and reduces the carbon intensity associated with the legacy challenges of liquifying and transporting hydrogen. This allows BayoTech to serve a diverse set of end users, including traditional consumers in the industrial gas and chemicals industries, as well as those using hydrogen to power the fast-growing fuel cell segment.