Apollo announced that Apollo-managed funds (Apollo Funds) have acquired a majority interest in Composite Advanced Technologies, Inc. (CATEC). 

CATEC's proprietary manufacturing capabilities play a crucial role in meeting the increasing market demand for carbon emissions reduction in industries that are challenging to decarbonize. This transaction underscores Apollo's unwavering commitment to fostering a more sustainable future and its extensive history of investing in or providing financial support to companies that facilitate the transition to cleaner energy sources. CATEC's range of offerings assists its clients in shifting away from carbon-intensive fossil fuels in favor of cleaner alternatives. CATEC specializes in producing large-format Type IV cylinders. These cylinders are instrumental in enabling the utilization of natural gas and hydrogen across a diverse array of industry applications, whether affixed to mobile trailers or employed in stationary scenarios.