Utility Global has announced a $100 million first close of its Series D financing round, marking a significant step toward large-scale commercial deployment of its industrial decarbonisation platform. The round was led by Ara Partners and APG Asset Management, with Ara remaining the majority investor.

The funding will accelerate global rollout of Utility’s proprietary H2Gen® technology, aimed at decarbonising hard-to-abate sectors including steel, refining, petrochemicals, chemicals and upstream oil and gas.

Scaling Industrial Hydrogen Without Grid Electricity

Utility’s H2Gen® system produces clean hydrogen and a high-concentration CO₂ stream by converting water using industrial off-gases. Unlike conventional electrolysis, the process does not require grid electricity, allowing it to integrate directly into existing industrial assets.

The system is designed to retrofit into legacy infrastructure, enabling operators to decarbonise without replacing entire facilities. By generating both hydrogen and a capture-ready CO₂ stream, the platform lowers the cost and complexity of carbon capture, utilisation or sequestration.

This dual output model targets one of the most persistent challenges in industrial decarbonisation: delivering emissions reductions while maintaining cost competitiveness and operational reliability.

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Capital to Accelerate Commercial Deployment

The Series D capital will support expanded manufacturing capacity, strengthened project execution teams and multiple deployments across the Americas, Europe and Asia. Utility has recently announced partnerships and project activity with industrial and municipal stakeholders including Kyocera, Symbio North America Corporation, Seongnam Municipal Government of Korea, Maas Energy Works and ArcelorMittal.

According to Chief Executive Officer Parker Meeks, the focus is shifting from pilot demonstrations to scalable commercial delivery. Industrial customers are seeking technologies that integrate within existing operations and provide measurable emissions reductions without compromising economics.

Investor Focus on Hard-to-Abate Sectors

Ara Partners first invested in Utility in 2021 and continues to back its commercial expansion strategy. The firm focuses on scaling industrial businesses capable of reducing emissions at source while delivering competitive financial performance.

APG Asset Management, which manages pension assets on behalf of Dutch pension funds, joins the round as a strategic institutional investor. The participation of long-term capital signals confidence in Utility’s ability to scale industrial applications in global markets.

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Industrial Decarbonisation as Infrastructure

Utility positions its technology as modular, scalable and compatible with brownfield industrial sites. This approach addresses one of the central constraints in heavy industry: capital intensity and asset longevity.

Rather than requiring entirely new production systems, the H2Gen® platform aims to retrofit into current operations, enabling gradual but meaningful emissions reductions. By producing hydrogen and concentrated CO₂ simultaneously, the system creates optionality for carbon utilisation or storage strategies.

Strategic Positioning in a Competitive Transition Landscape

With hard-to-abate sectors under mounting pressure to reduce emissions, technologies that compete directly with fossil-based processes on cost are increasingly critical. Utility’s Series D milestone indicates a transition from technology validation toward global industrial deployment.

As industrial decarbonisation moves from concept to implementation, capital discipline, operational reliability and integration capability are becoming decisive factors. The latest funding round positions Utility to expand its footprint in sectors where emissions reductions have historically proven difficult and expensive.

The company is headquartered in Houston and remains a portfolio company of Ara Partners.

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