Apollo funds acquire Composite Advanced Technologies
In New York, Apollo announced that Apollo-managed funds have acquired a majority interest in Composite Advanced Technologies, Inc (CATEC), a provider of compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen transportation and storage solutions in the United States.
Founded in 2014 and based in Houston, CATEC manufactures large format Type IV cylinders that facilitate the use of natural gas and hydrogen across a wide variety of industry applications when mounted on mobile trailers or used in stationary applications.
Alberto Chiesara, Co-Founder and President of CATEC, said: “We are pleased to join forces with Apollo Funds to help expand our capabilities and better support the growing adoption of low-carbon fuel solutions such as hydrogen, RNG and CNG. Apollo’s track record in energy transition investing, industry experience and significant resources make them an ideal partner for CATEC as we scale and embark on our next phase of growth.”
Category: Hydrogen
