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BayoTech, Inc. Announces the Close of a $12.5 Million Series B Financing Round
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ALBUQUERQUE, N.M.April 6, 2018 /PRNewswire/ — BayoTech, Inc., developer of advanced chemical reactors for the distributed production of hydrogen and fertilizers, today announced it has closed a $12.5 million Series B round of financing. The funds will be used to expand the company’s infrastructure and complete the commercialization of its technology.

 

“Developing sustainable technologies to feed the world’s growing population is a tremendous business opportunity that requires not only improvements in fertilizer production but also improvements in fertilizer utilization. The bayonet technology allows for local production that focuses on customized local fertilizer solutions. The technology can change the way we feed the planet’s growing population. Today, we are pleased to announce that along with our venture capital partners, we have also welcomed one of the world’s largest fertilizer companies as a strategic partner and investor. This partnership and commitment to innovation will help us propel BayoTech to the next stage of development,” said Justin Eisenach, President and CEO of BayoTech.

BayoTech’s new strategic partner, a significant player in the global fertilizer marketplace, participated in the Series B round of financing along with Series A investors Cottonwood Technology Fund and Sun Mountain Capital.

David Blivin, Managing Director at Cottonwood Technology Fund, said “It is a gratifying accomplishment to discover an innovation that has been largely overlooked at the pre-demonstration, pre-customer stage and help it advance to the point where customers are excited about the prospects for their business represented by adopting the technology. BayoTech is based in New Mexico and has Sandia National Labs roots.”

Blivin continued, “It was Cottonwood’s first investment with New Mexico Catalyst Fund capital and will continue to grow and create jobs in New Mexico. We couldn’t be happier to complete this round of financing and welcome our new strategic partner to the team.”

Sun Mountain is always seeking New Mexico based companies that we believe can compete on the world stage. BayoTech is clearly demonstrating this by adding a major fertilizer company to our investor group,” said Sally Corning, Partner at Sun Mountain Capital.

 

Sencure
We are gladly having Cottonwood Technology Fund on board as lead investor. They are very supportive on aligning strategy and execution. The first year they ...
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Jurryt Vellinga, CEO
Sencure BV
We are gladly having Cottonwood Technology Fund on board as lead investor. They are very supportive on aligning strategy and execution. The first year they brought in already 8 corporates as potential customer. We are surprised every time about their extensive entrepreneurial mindset, business experience and global network of Cottonwood. They have been very smart people and 24/7 supportive.
Sencure
Jurryt Vellinga, CEO
Sencure BV
BayoTech
We would not exist, or certainly not in New Mexico, if it were not for Cottonwood. Until Cottonwood got involved we struggled to get attention ...
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Justin Eisenbach, President and CEO
Bayotech Corp
We would not exist, or certainly not in New Mexico, if it were not for Cottonwood. Until Cottonwood got involved we struggled to get attention from other capital providers. Cottonwood has been a real catalyst, beyond their money, to upgrading our management team, opening doors to potential strategic investors and customers and focusing on our market entry strategy. Cottonwood has been a great partner in driving our success in every area. I truly believe they wake up every day looking for ways and ideas that can support our success.
BayoTech
Justin Eisenbach, President and CEO
Bayotech Corp
Skorpios Technologies, Inc.
Cottonwood began working with me a year before they closed their first fund. Even though they weren’t initially in a position to invest they ...
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Steve Krasulick, President & CEO
Skorpios Technologies
Cottonwood began working with me a year before they closed their first fund. Even though they weren’t initially in a position to invest they still opened doors to potential investors and customers, and assisted with the fund raising strategy and execution plan. Once their fund was closed they took an aggressive lead role in pulling together our first round and helping us launch the company. Now after having raised almost $150M they continue to support our growth, provide valuable advice and open doors to additional resources as we need them. We have been fortunate to have Cottonwood as a partner in building our company.
Skorpios Technologies, Inc.
Steve Krasulick, President & CEO
Skorpios Technologies