BayoTech Names New CEO Diaco Aviki to Propel Company's Hydrogen Hub Growth Strategy

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Nov 06, 2024, 09:00 ET

HOUSTON, Nov. 6, 2024 /PRNewswire/ -- BayoTech, a global leader in hydrogen production and distribution solutions, proudly announces the appointment of Diaco Aviki as President and Chief Executive Officer (CEO), effective immediately. Mr. Aviki, former Chief Operating Officer at Crestwood Midstream Partners, L.P. (Crestwood), brings deep energy sector expertise to lead BayoTech in its next stage of commercial growth. Mauricio Vargas, BayoTech's outgoing President and CEO, will continue to play an active role as Executive Chair of the Board of Directors.

BayoTech welcomes Diaco Aviki as President & CEO

"I am impressed by BayoTech's transformative work in making reliable hydrogen supply accessible to businesses focused on decarbonization," said Diaco Aviki. "BayoTech has achieved remarkable milestones in hydrogen production and high-pressure equipment, and I look forward to accelerating our innovation and growth in this critical sector." Diaco Aviki's career in the energy industry spans nearly three decades, marked by his strategic leadership at Crestwood, until the Crestwood sale in November of 2023 to Energy Transfer LP for $7.1 billion. Diaco led key functions, including commercial, business development, field operations, engineering, project management, safety, and marketing. Most recently, Diaco served on the Board of Directors of Pinon Midstream, LLC where he supported the leadership team during the facility reconstruction, expansion, and recent sale in October 2024 to Enterprise Product Partners, L.P. for $950 million in cash.

As demand for hydrogen surges, BayoTech is expanding its network of BayoGaaS® Hydrogen Hubs, with initial production locations strategically positioned to serve growing regional markets in the Midwest and California. Over the next five years, BayoTech plans to add additional hubs across California and other key U.S. markets, further cementing its leadership in the industry. With a decentralized, scalable model, BayoTech's hubs minimize hydrogen transport distances, delivering cost savings, increased supply reliability, and reduced emissions. High-pressure hydrogen is delivered to local customers via BayoTech's industry leading, high-capacity storage and transport equipment, optimizing distribution efficiency and supporting infrastructure for the expanding hydrogen economy. BayoTech's agile approach is creating a resilient and profitable hydrogen ecosystem that supports early adopters, secures long-term partnerships, and delivers sustained value for stakeholders.

Mauricio Vargas said, "As I step into the role of Executive Chair, I am excited to support Diaco in a seamless transition. I am incredibly proud of what we've accomplished over the past five years, and I am confident that BayoTech is well-positioned for continued success in advancing the hydrogen industry."

About BayoTech:

BayoTech, an innovator in hydrogen solutions, is committed to addressing the global need for reliable, cost-effective, and low-carbon hydrogen. BayoTech sites hydrogen production close to demand and distributes it to consumers via high-pressure gas transport and storage equipment. Customers are accelerating the decarbonization of their energy and transportation systems through BayoTech's supply of hydrogen molecules and equipment.

For more information, please visit www.bayotech.us or contact [email protected].

Forward-Looking Statements

This release contains forward-looking statements concerning anticipated product deployments. These forward-looking statements reflect BayoTech's current expectations. Any such forward-looking statements are based on BayoTech's assumptions relating to its financial forecasts and expectations regarding its program development efforts, siting permits and market demand.

These statements involve risks and uncertainties that may cause BayoTech's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. Readers should not place undue reliance on BayoTech's forward-looking statements and BayoTech assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation.

SOURCE BayoTech