Apollo Global acquires majority interest in Composite Advanced Technologies

Apollo announced that Apollo-managed fund have acquired a majority interest in Composite Advanced Technologies, a leading provider of compressed natural gas, renewable natural gas and hydrogen transportation and storage solutions in the United States. CATEC’s products and services help its customers transition away from carbon-intensive fossil fuels towards cleaner alternatives. CATEC’s high capacity, lightweight trailers and storage solutions help end-customers decarbonize, while making lower carbon energy sources more accessible and affordable. Apollo Partner Scott Browning said, “CATEC’s proprietary manufacturing capabilities are critical to supporting the growing market demand to reduce carbon emissions in ‘hard-to-decarbonize’ industries. The CATEC team has built an impressive business, which we believe can scale to become a one-stop-shop platform for serving the equipment needs of the compressed gas value chain through various expansion initiatives. We look forward to helping accelerate the Company’s growth trajectory in support of the broader energy transition.”