ALBUQUERQUE, NM – BayoTech, Inc. (“BayoTech”), a global leader in on-site hydrogen production, 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.

Brean Capital acted as placement agent and financial advisor for BayoTech in this transaction.

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.

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.

“This is an exciting day in our company’s evolution. This investment will enable BayoTech to drive commercial growth aggressively so that consumers around the world can have access to low cost, low/zero-carbon hydrogen today,” said Mo Vargas, BayoTech’s President & Chief Executive Officer. “We are also very appreciative of the continued support and guidance of our financial advisor, Brean Capital.  Jim Mangines and his team have believed in us since their involvement and are a valuable partner in supporting BayoTech’s growth.”

“BayoTech has built a first-rate team and partnerships to catapult it into a global leader in low-cost, low-/zero-carbon hydrogen production. We are excited to be part of the BayoTech team” said Jim Mangines, Managing Director at Brean Capital.

Wendy Rollstin, BayoTech’s Chief Financial Officer, added, “The new capital follows a year of significant growth for BayoTech, which announced agreements for hydrogen development projects with HYZON Motors, IGas Energy, Nutrien, and others, as well as filing four new patents in 2020. This investment will enable BayoTech to enhance our commercialization efforts, expand our product offerings to meet the needs of our customers seeking to promote their sustainability goals, and continue to innovate.”

BayoTech is a hydrogen generation technology company offering hydrogen production solutions through rentals, leases, sales and gas-as-as-service to customers worldwide. Headquartered and produced in New Mexico, USA, BayoTech’s on-site hydrogen generators are more efficient than legacy steam methane reformers, leading to lower carbon emissions and low-cost hydrogen. Visit for more information.

Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 40 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market industry knowledge, commitment and experience to ensure a successful transaction.  For more information, please visit:

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