money moves

Houston energy company focused on decarbonization raises $53M series C

Utility Global’s technology enables reduction of greenhouse gas emissions along with generation of low-carbon fuels and chemicals. Photo courtesy of Utility Global

Houston-based Utility Global, a maker of decarbonization-focused gas production technology, has raised $53 million in an ongoing series C round.

Among the participants in the round are Canada’s Ontario Power Generation Pension Plan, the XCarb Innovation Fund operated by Luxembourg-based steel company ArcelorMittal, Houston-based investment firm Ara Partners, and Saudi Aramco’s investment arm.

Also, Utility Global and ArcelorMittal have agreed to develop at least one decarbonization facility at an ArcelorMittal steel plant.

The latest infusion of cash will support the rollout of Utility Global’s eXERO technology, including establishment of the company’s first commercial facilities in 2026.

“With the successful completion of its demonstration program at a commercial steel facility resulting in the first hydrogen ever produced from blast furnace off-gasses in a single reactor, the company has shifted to commercial deployments,” Utility Global says in a news release.

Utility Global’s technology enables reduction of greenhouse gas emissions along with generation of low-carbon fuels and chemicals.

“Our eXERO solution is the first of its kind to convert process gasses into clean hydrogen in a single reactor, onsite, in a cost-effective manner that extends the life of existing customer assets and processes while providing significant emissions reductions,” says Claus Nussgruber, CEO of Utility Global.

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A View From HETI

PV Hardware USA has opened a new 95,000-square-foot manufacturing facility in Houston. Photo via pvhardware.com.

PV Hardware USA, a provider of solar tracking and foundation solutions, has announced the opening of its second U.S. manufacturing facility in Houston, which is expected to create more than 100 jobs locally and strengthen domestic production capacity for solar energy facilities.

“Opening our second U.S. manufacturing facility represents an exciting step forward in our growth journey and demonstrates our commitment to the U.S. market,” Rodolfo Bitar, VP of Business Development for PVH USA, said in a news release.

The 95,000-square-foot facility began operations in July and aims to increase production while reducing lead times for customers. The new state-of-the-art building joins the company’s first $30 million U.S. manufacturing facility, which opened in Houston in May 2024 as one of America’s largest solar tracker manufacturing facilities.

Established in 2008 in San Francisco, PVH USA has launched a series of innovative advancements that help solar facilities withstand extreme weather events, generate more energy during overcast weather and expand the types of terrain suitable for solar installations. Its proprietary pre-assembly process can reduce installation times by 40 percent, which helps expand solar power capacity to meet increasing demand for electricity, according to the company. Currently, PVH USA has over 32 gigawatts of solar trackers supplied worldwide, and it operates from advanced manufacturing facilities in Spain, Saudi Arabia and the United States.

Its existing Houston facility manufactures solar structures and custom-built solar tracking systems for new solar generation projects.

“By expanding our presence in Houston, we are not only investing in local economic development but also ensuring we can better serve our customers with faster turnaround times and the highest quality products that are 100% domestically made,” Bitar added in the release.

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