Apollo Funds Acquire Majority Stake In Composite Advanced Technologies For Undisclosed Sum
Portfolio Pulse from Shivani Kumaresan
Apollo Global Management, Inc. (APO) has acquired a majority stake in Composite Advanced Technologies, Inc (CATEC). CATEC provides compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen transportation and storage solutions in the U.S. Apollo Funds plan to invest further in the company to support expansion in the high-growth hydrogen transport and storage market.
August 22, 2023 | 1:47 pm
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Apollo Global Management's acquisition of a majority stake in CATEC could potentially boost its portfolio and align with its sustainable investing platform.
The acquisition of CATEC, a provider of CNG, RNG and hydrogen transportation and storage solutions, aligns with Apollo's sustainable investing platform. This could potentially boost Apollo's portfolio and its shares in the short term.
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