Utility Global’s H2Gen technology produces clean hydrogen from water and industrial off-gases through an electrochemical process that eliminates the need for electricity. That has attracted asset owners and operators in steel, chemicals and other hard-to-abate industrial sectors.
With a fresh injection of Series D capital, Houston-based Utility plans to scale up H2Gen’s commercial deployment in the Americas, Europe and Asia. APG Asset Management, a €590 billion manager that invests on behalf of Dutch pension funds, and Houston-based industrial decarbonization investor Ara Partners co-led the round.
“What sets Utility apart is its ability to compete head‑to‑head with conventional fossil‑based solutions on cost and reliability, even as it materially reduces emissions,” said Cory Steffek of Ara Partners, which has been a majority investor in Utility since 2021.
Commercial partners
Utility CEO Parker Meeks says Utility Global has a deep pipeline of commercial projects already in development. In South Korea, the company has a partnership with the city of Seongnam to convert biogas from municipal wastewater treatment facilities into clean hydrogen for cars, buses and trucks. In Brazil, the company has partnered with global steel producer ArcelorMittal to convert blast furnace gas into low-carbon hydrogen. Blast furnaces generate up to 90% of CO2 emissions in the entire steelmaking process.
