Utility Global Announces $100 Million First Close of Series D Financing to Deploy its Economic Industrial Decarbonization Platform Globally

Funding accelerates commercial deployment of Utility's H2Gen® technology, which produces cost-effective clean hydrogen and highly concentrated CO₂ streams, enabling at-scale economic decarbonization for existing assets in hard-to-abate industries

HOUSTON, Feb. 17, 2026 /PRNewswire/ -- Utility Global ("Utility"), a global economic industrial decarbonization company enabling practical solutions for hard-to-abate sectors, today announced a first close of $100 million in its Series D financing round, led by Ara Partners and APG Asset Management (one of the world's largest pension investors on behalf of Dutch pension funds). This milestone financing will allow Utility to globally deploy its proprietary H2Gen® technology at industrial scale.

The financing will accelerate Utility's growth, enabling the continued expansion of its manufacturing capabilities, the strengthening of its project delivery teams, and the advancement of multiple commercial deployments across the Americas, Europe, and Asia. The capital will support its recently announced strategic partnerships and project announcements with Kyocera, Symbio North America Corporation, Seongnam Municipal Government, Maas Energy Works and ArcelorMittal. Utility's focus remains on repeatable, economically viable solutions that integrate directly into industrial processes and enable near-term decarbonization at scale.

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Utility's proprietary H2Gen® technology enables the conversion of water into valuable clean hydrogen and a high-purity CO₂ stream without electricity by utilizing industrial off-gases, supporting pragmatic and scalable decarbonization while enabling economic carbon capture, utilization, or sequestration (CCUS). The technology is designed to integrate directly into existing industrial infrastructure in largely hard-to-abate assets, delivering repeatable deployments across steel, refining, petrochemicals, chemicals, low carbon fuels and upstream oil and gas.

"This financing marks a critical step in Utility's transition from a proven technology to full-scale global commercial execution," said Parker Meeks, Chief Executive Officer and President of Utility Global. "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."

Ara Partners continues to be a majority investor in Utility Global. Ara's focus is on accelerating the growth of businesses that can deliver standout performance while decarbonizing the industrial economy. Ara first invested in Utility Global in 2021 and continues to support the company's commercial expansion as it advances customer projects worldwide.

"Utility is tackling one of the most difficult challenges in the energy transition: decarbonizing hard-to-abate industrial sectors," said Cory Steffek, Partner at Ara Partners and Utility Global board chair. "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."

TPH &Co., the energy business of Perella Weinberg Partners, and BDA Partners, are serving as financial advisors to Utility Global.

About Utility Global

Utility delivers practical solutions that enable economic industrial decarbonization across hard-to-abate sectors including steel, mobility, refining, chemicals, and upstream oil & gas. The company's breakthrough H2Gen® technology harnesses energy from industrial off-gases and biogases to produce application-specific, high-purity hydrogen with low-to-negative carbon intensity on-site from water, without electricity, using a proprietary electrochemical process.

H2Gen® also produces a high-concentration carbon dioxide stream, significantly reducing the cost and complexity of carbon capture. Modular, scalable, and operationally flexible, H2Gen® systems integrate seamlessly into existing industrial assets with a record-small footprint, enabling practical and economical decarbonization.

Utility is a portfolio company of Ara Partners, a global private equity and infrastructure firm that is decarbonizing the industrial economy.

For more information on Utility's solutions and services, visit https://www.utilityglobal.com.

About Ara Partners

Founded in 2017, Ara Partners is a global private markets firm focused on decarbonizing the industrial economy. We invest in the middle market across three strategies: Private Equity, Infrastructure, and Energy. We scale commercially demonstrated decarbonization solutions, support the businesses and infrastructure that enable their adoption, and reduce emissions at the source across the conventional energy value chain. Our model combines investing, market and policy expertise, project execution and operational optimization, and rigorous carbon accounting to reduce emissions economically and unlock growth at an industrial scale. Ara operates from Houston, Boston, Dublin and Washington D.C., and, as of September 30, 2025, had approximately $6.6 billion in assets under management.

For more information about Ara Partners, please visit https://www.arapartners.com.

About APG

As the largest pension services provider in the Netherlands APG manages approximately €590 billion (June 2025) in pension assets for 4.6 million participants. APG provides executive consultancy, asset management, pension administration, and pension communication. With approximately 4,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, and Singapore. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects.

Further details can be found on APG's website https://apg.nl/en.

SOURCE Utility Global