We've been involved in projects worth tens of billions of dollars, many starting when they were just an entrepreneur's vision on the back of a napkin.
We’re excited to keep growing this figure as we continue to explore ways to partner with those looking to drive the metals industry forward by challenging industry norms and fully embracing new ways of doing things. In fact, we reject the phrase “that’s the way we have always done it.” We are always going to challenge ourselves and our partners by applying entrepreneurial vision in an attempt to find new and better ways of running the companies that we invest in. Examples of GPP led projects include the following.
Hybar
Continuing with its success in developing, constructing, and managing many of the finest scrap metal recycling steel production facilities in the world, GPP teamed with a powerful group of equity investors and lenders to form Hybar LLC. Under GPP’s leadership, Hybar successfully raised the $700 million needed to build, start-up, and operate a technologically advanced rebar mill. The mill is being built in northeast Arkansas on a 1,300-acre greenfield site. GPP is overseeing the self-managed 22-month construction effort.
Hybar’s mill design will allow Hybar to produce rebar using 100% renewable solar power when the sun is shining—an industry first in North America. The solar power needed to run the Hybar mill will be generated from an adjacent solar field owned by an affiliate of Hybar.
Demonstrating the strong demand for a new advanced rebar mill is the fact that Hybar has already presold 24% of the mill’s projected rebar production for the next ten years.
Big River Steel
In 2017, following a highly successful self-managed greenfield construction effort, Big River Steel, a $1.6 billion scrap metal recycling and flat-rolled steel mini mill owned by GPP and a consortium of high-profile investors, began operations in northeast Arkansas. And what a beginning it was!
Shortly after operations began, with two of GPP’s partners serving as Big River Steel’s chief executive officer and chief financial officer, Big River Steel set new industry records in terms of ramp-up and profitability. In the first month of operation the Big River Steel mill ran at close to 50% of full monthly capacity, bettering a ramp-up record that was set eight years earlier at another GPP sponsored steel mini mill project. And in the second month of operation, Big River Steel generated positive EBITDA, establishing the industry record for shortest time to profitability. GPP was then instrumental in guiding the Big River Steel team on a path that led to Big River Steel becoming the first Leadership in Energy and Environmental Design (LEED) certified steel production facility in the world.
Mississippi Silicon
In 2014, GPP and a small team of silicon metal industry managers began operating a new silicon metal production facility in northeast Mississippi. This facility, Mississippi Silicon LLC, was a start-up company and the first silicon metal facility built in North America in over forty years. The GPP team successfully structured and raised the $215M of permanent and working capital financing necessary to build, start up and operate the facility. GPP is a sizable investor in the project and remains active in the business today.
Mississippi Silicon’s silicon metal is produced using less energy than any other producer in North America. Because of Mississippi Silicon’s environmental focus, North American silicon metal consumers in the solar power and semiconductor industries prefer to buy from Mississippi Silicon over other silicon metal producers, everything else being equal.
SeverCorr
In 2007, GPP and a group of steel industry managers started up SeverCorr LLC, a $880 million technologically advanced scrap metal recycling and flat-rolled steel mini mill, following a self-managed greenfield construction effort. SeverCorr, which was owned by GPP, a strategic investor and a likeminded financial investor, quickly proved itself in the North American steel industry by producing grades of steel using scrap metal that had previously only been produced by integrated steel producers using iron ore. This greatly accelerated the move in North America away from integrated steel production into mini mill steel production, which ultimately led to GPP forming Big River Steel.
Among numerous other awards and recognition, the SeverCorr project received Project & Finance Magazine’s prestigious “Deal of the Year” award.