fresh funding

Houston company raises $100M Series D to scale industrial decarbonization tech

Utility Global’s H2Gen technology aims to decarbonize the heavy industrial sector. Photo courtesy of Utility Global

Houston-based Utility Global has raised $100 million in an ongoing Series D round to globally deploy its decarbonization technology at an industrial scale.

The round was led by Ara Partners and APG Asset, according to a news release. Utility plans to use the funding to expand manufacturing, grow its teams and support its commercial developments and partnerships.

“This financing marks a critical step in Utility’s transition from a proven technology to full-scale global commercial execution,” Parker Meeks, CEO and president of Utility Global, said in the release. “Industrial customers are no longer looking for pilots or promises; they need deployable solutions that work within existing assets and deliver true economic industrial decarbonization today that is operationally reliable and highly scalable. Utility’s technology produces both economic clean hydrogen and capture-ready CO2 streams, and this capital enables us to scale and deploy that impact globally with speed, discipline, and rigor.”

Utility Global's H2Gen technology produces low-cost, clean hydrogen from water and industrial off-gases without requiring electricity. It's designed to integrate into existing industrial infrastructure in hard-to-abate assets in the steel, refining, petrochemical, chemical, low-carbon fuels, and upstream oil and gas sectors.

“Utility is tackling one of the most difficult challenges in the energy transition: decarbonizing hard‑to‑abate industrial sectors,” Cory Steffek, partner at Ara Partners and Utility Global board chair, said in the release. “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. With this new funding, Utility is well-positioned for its next chapter of commercial growth while maintaining the technical excellence and capital discipline that have defined its development to date.”

Utility Global reached several major milestones in 2025. After closing a $53 million Series C, the company agreed to develop at least one decarbonization facility at an ArcelorMittal steel plant in Brazil. It also signed a strategic partnership with California-based Kyocera International Inc. to scale global manufacturing of its H2Gen electrochemical cells.

The company also partnered with Maas Energy Works, another California company, to develop a commercial project integrating Maas’ dairy biogas systems with H2Gen to produce economical, clean hydrogen.

"These projects were never intended to stand alone. They anchor a deep and growing pipeline of commercial projects now in development globally across steel, refining, chemicals, biogas and other hard-to-abate sectors worldwide, Meeks shared in a 2025 year-in-review note. He added that 2026 would be a year of "focused acceleration to scale."

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A View From HETI

Startups from around the world will pitch during Houston Energy and Climate Week. Photo via the Ion

One of the highlights from Houston Energy and Climate Week is hearing directly from the up-and-coming founders working to reshape the energy landscape.

This year, dozens of startups from Brazil to Berkeley and from right here in the Bayou City will compete for cash prizes and bragging rights while showcasing their concepts at HECW pitch events. Here's who's pitching at some of the week's signature competitions. Check back after the week wraps to see who takes home the top prizes.

Cypher Pilotathon and Startup Showcase — Sept. 15 at POST Houston

At the Cypher Pilotathon, founders will give their best 7-minute pilot pitches to industry experts and a live audience, followed by Q&A. This year's event will center around the theme, "The NEW Energy Industrial Revolution." Here's who's pitching:

  • Houston-based Aeromine Technologies, a distributed wind turbine company
  • San Francisco-based Ammobia, which develops low-carbon, energy source-agnostic ammonia
  • Birmingham, Alabama-based Ashipa Electric, a renewable energy semiconductor and microgrid manufacturer
  • Houston-based BigMachine AI, an AI engineer for industrial projects
  • Houston-based Corrolytics, which has developed corrosion detection technology
  • São Paulo, Brazil-based GLR Tech, which has developed a compact, scalable, low-cost platform for industrial emissions control
  • Monreal-based Green Graphite Technologies, which produces battery-grade graphite in a cost-effective and sustainable manner
  • Boston-based KIRA, which converts industrial wastewater into ultrapure water and solids
  • Edinburgh-based Mocean Energy, which works to deliver renewable ocean energy to power offshore industry
  • Los Angeles-based Mote, which works to convert agricultural and forestry waste into clean energy
  • Berkeley-based Oleo, which is developing a biomanufacturing platform to transform biomass waste into carbon-negative, cost-competitive oil feedstocks for advanced fuels
  • Oslo, Norway-based OTee, an automation machinery manufacturer
  • Houston-based Resollant, which is working to produce battery-grade graphite and ultra-low-cost hydrogen
  • Tulsa-based RyuGen Energy Solutions Inc., which works to turn underused commercial power into distributed AI infrastructure
  • Berkeley-based Sunchem, which provides precision separation of critical metals from sources including e-waste, evaporator scrap, solar panels, and mining ores and concentrates

Twenty-two other startups will participate in the startup showcase. See the full list here.

Greentown Climatetech Summit — Sept. 16 at the Continental Club

Ten Greentown startups will compete for $25,000 in prizes at Greentown Climatetech Summit's signature pitch event. Judges include Dave Dreessen, of Chevron Technology Ventures’ Future Energy Fund, and Jon Greene, of New Climate Ventures. Here's who's pitching:

  • Houston-based AMPeers, which manufactures high-temperature superconducting wire for high-power electrification infrastructure
  • Detroit-based AmHyTech, which enables ambient-condition liquid ammonia handling for fertilizer and fuel applications
  • Houston- and Zurich-based Biosimo, which converts biomass-based ethanol into lower-carbon acetic acid and acetyls
  • Houston-based Capwell Services Inc., which captures methane from low-flow oil and gas vents and returns it to market
  • Cleveland- and Ghana-based Cocoa Potash, which extracts potassium carbonate and fertilizer from cocoa, coconut, and palm-nut waste
  • Houston-based Solidec, which electrolyzes air, water, and electricity into onsite hydrogen peroxide.
  • Houston-based Focis AI, which converts industrial laser scans into a queryable digital twin of refineries and plants
  • Calgary-based Kanin Energy, which develops and finances waste heat to power projects for industrial clients
  • San Francisco-based FelixFusion, which models grid connection points so developers can validate interconnection in minutes
  • Houston-based Pike Robotics, which deploys its Wall-Eye robot to inspect hazardous tanks without taking assets offline

TEX-E Student Innovators will also pitch earlier in the day-long event, and an additional five Greentown startups will compete for $1,000 during the Lightning Pitch Competition. Find more information here.

Rice Alliance Energy Tech Venture Forum — Sept. 17 at Rice University’s Jones Graduate School of Business

Houston-based companies Aquanta Vision, Capwell Services and Deep Anchor Solutions will be joined by startups from around the world to compete to be named one of the 10 Most Promising Companies at the 23rd Energy Tech Venture Forum. Additional companies will participate in office hours.

See the full list of nearly 50 companies pitching here.

Halliburton Labs Pitch Day — Sept. 18 at the Ion

Halliburton Labs Pitch Day brings together a curated group of early‑stage energy technology investors and 16 participating companies. The event is invitation‑only. Here's who's pitching:

  • Australia-based Aquafortus, which has developed a non-thermal liquid to liquid desalination technology for resource recovery from wastewater brine
  • Calgary-based Ayrton Energy, which has developed a proprietary technology that enables hydrogen to be stored within an organic liquid, which can be handled and transported like gasoline
  • Illinois-based Cache Energy, which is developing electrified heat and long-term energy storage
  • New York-based Cella, which is working to advance subsurface mineralization of CO2
  • Miami-based Chemergy, which has developed a patented process to convert wet organic and plastic wastes into green hydrogen
  • Tennessee-based Enexor BioEnergy, which is developing on-site waste-to-bioenergy conversion systems
  • Reno-based Espiku, which focuses on water and minerals recovery from industrially produced water
  • UK-based LiNa Energy, which is developing low-cost, solid-state sodium battery technology
  • Michigan-based Marel Power Solutions, which is developing advanced cooling technology to redefine power-stacks
  • California-based Mitico, which is developing technology to collect and purify carbon dioxide at the source, post-combustion, before it enters the atmosphere
  • Singapore-based Nandina REM, which turns end-of-life assets into new, reliable, high-performance carbon fiber materials for the aviation, aerospace and defense industries
  • California-based Noon Energy, which is developing a 100-plus-hour ultra-long-duration battery storage
  • Silicon Valley-based Proof Energy, which is commercializing next-generation metallic solid oxide fuel cell (M-SOFC) technology.
  • Berkeley-based Sunchem, which provides precision separation of critical metals from sources including e-waste, evaporator scrap, solar panels, and mining ores and concentrates
  • Singapore-based Sungreen, an advanced materials company pioneering nanotechnology-based coatings for high-efficiency, low-cost electrodes
  • Minneapolis-based Syncris, which is developing next-generation modular power systems designed for the most demanding environments
Read more about Houston Energy and Climate Week and its programming in Energy Capital's event preview.

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