HYBAR RAISES FINANCING TO BUILD SCRAP METAL RECYCLING STEEL REBAR MILL
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Wednesday, August 2, 2023
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OSCEOLA, Ark., Aug. 2, 2023 /PRNewswire/ -- Hybar, a newly formed company, announced today that it successfully raised $700 million of debt and equity financing to build, start up and operate a technologically advanced, environmentally sustainable scrap metal recycling steel rebar mill.
Key Points:
- OSCEOLA, Ark., Aug. 2, 2023 /PRNewswire/ -- Hybar, a newly formed company, announced today that it successfully raised $700 million of debt and equity financing to build, start up and operate a technologically advanced, environmentally sustainable scrap metal recycling steel rebar mill.
- Of the $700 million raised, $470 million will be spent to build the rebar mill.
- Hybar expects its greenhouse gas emissions to be the lowest among all North American steel producers, and likely the lowest in the world's steel making community.
- Hybar plans to produce 630,000 tons of rebar annually with approximately 154 employees (4,090 tons of rebar production per year per employee).