What is Utility?
Utility delivers practical, scalable solutions designed to enable economic industrial decarbonization. At the heart of its offering is the H2Gen system, a breakthrough electrochemical process that produces hydrogen on-site from water without the need for electricity. This modular technology is specifically engineered to integrate into existing industrial assets with a minimal footprint, providing a viable pathway for heavy industries to reduce their carbon intensity. By simultaneously capturing high-concentration carbon dioxide, Utility addresses both energy efficiency and carbon management, effectively lowering the cost and complexity of environmental compliance for its clients.
How much funding has Utility raised?
Utility has raised a total of $208M across 5 funding rounds:
Series A
$5M
Series B
$25M
Series B
$25M
Series C
$53M
Series D
$100M
Series A (2020): $5M, investors not publicly disclosed
Series B (2022): $25M led by Ara Partners, Nova Scotia, Aramco Europe, and Samsung Electronics
Series B (2022): $25M supported by Ara Partners, Samsung Electronics, and Aramco Europe
Series C (2024): $53M, investors not publicly disclosed
Series D (2026): $100M backed by Ara Partners and APG
Key Investors in Utility
Ara Partners
Ara Partners is a global private equity firm focused on decarbonizing the industrial economy by commercializing and scaling companies that contribute to the transition to net-zero.
APG
APG is a prominent pension fund management company providing asset management, retirement fund administration, and strategic employer solutions.
Samsung Electronics
Samsung Electronics is a global leader in technology and consumer electronics, driving innovation across semiconductors, digital appliances, and IoT solutions.
What's next for Utility?
With the successful closure of its Series D round, Utility is well-positioned to accelerate the commercial deployment of its H2Gen systems. The strategic focus will likely shift toward expanding manufacturing capacity and deepening partnerships within the global energy and industrial sectors. As the company scales, it will continue to leverage its proprietary technology to meet the rising demand for low-carbon hydrogen, further solidifying its role as a key player in the industrial decarbonization landscape. The ongoing support from institutional investors suggests a long-term commitment to scaling these high-impact, sustainable infrastructure solutions.
See full Utility company page
