Utility Global, the sustainable H₂ company pioneering the electroless coupled exchange reduction oxidation (eXERO) conversion process, announced its $25-MM Series B funding round for the commercialization of the H2GEN sustainable H₂ line of products. The funding round was led by existing investor Ara Partners and includes strategic investments by Samsung Ventures, NOVA by Saint-Gobain and Aramco. This investment supports Utility Global’s commitment to be a key contributor to the energy transition by unlocking an affordable beyond-net-zero low carbon future through its technology.

Here is how Utility Global’s technology can potentially aid the energy industry:

• By eliminating the need for key traditional process steps, Utility Global’s tech requires on average 30% less capital expenditure when compared to conventional technologies.
• By being highly feedstock flexible, Utility Global taps waste streams, converting them to clean H₂ to power homes, cars, and industries of the future.
• By not using electricity, UG’s technology platform eliminates cost and inefficiencies of a conventional electrolysis system. It does this by eliminating the infrastructure and associated losses of electricity generation, transmission and distribution.
• By converting steelmaking off gases to H2 for use in the steel making process, Utility Global decarbonizes steel production by 25% without the need for added carbon capture. The process does however enable convenient plug-on carbon capture at significantly lower cost than conventional methods, reducing the carbon footprint of steel manufacturing further.
• By converting steelmaking off gases to H₂ for use in the steel making process, Utility Global is a key component in the roadmap to net-zero.
• If Utility Global's tech was deployed across today’s global steel industry, it would immediately lower the carbon footprint of more than 1 Btpy of steel by generating over 30 MMt of H₂, and with this eliminating more than 500 MMt of CO₂ emissions.

In addition, Utility Global’s strategic expansion includes the appointment of Claus Nussgruber as chief executive officer. Mr. Nussgruber is an accomplished global executive with more than 30 years of leadership experience in the industrial gases’ growth space, leading P&L, business development, capital investments, product management, and end-to-end commercialization.

The new funds raised by Utility Global will be used for final product and systems development, expansion of manufacturing capability, and new strategic hires focused on rapid market development. Utility Global is currently in partnership discussions with multiple organizations for field-demonstration programs that will jumpstart product availability and shipment worldwide.

“At Utility Global, we are not simply upgrading or outperforming what the industry has already built -- we’ve developed something entirely new,” said Claus Nussgruber, chief executive officer of Utility Global. “We’re delivering disruptive technology solutions that overcome legacy sustainability challenges, enabling the energy transition to advance towards a beyond-net-zero low carbon world – and doing it in a simpler, more cost-effective way.”

"We are very excited about the investment by the strategic partners, all of which will support a fast and confident delivery of commercial systems for a range of key industries,” added Mr. Nussgruber.

Utility Global’s products are based on the eXERO process. This proprietary process is an industry first that utilizes zero electricity to convert sustainable waste streams directly into high-purity H₂. Through this unique process, the H2Gen product line will deliver customers reliable, low-cost and low-carbon, high-purity H₂. The simple, yet elegant design offers unparalleled feedstock flexibility and highly competitive economics.

Cory Steffek, partner at Ara Partners said, “It is not very often that we find a company with the potential to disrupt an entire industry and positively impact the world at the same time. We are confident in Claus Nussgruber’s unique leadership talent and believe his strong track in both the industrial gas and energy transition spaces creates a strong growth trajectory for Utility Global.”

Preparing corporations for the markets of tomorrow has been the hallmark of Claus Nussgruber’s career. With his focus on delivering game changing energy transition solutions, he continues to drive the commercialization of novel technologies with advanced business approaches. Prior to taking the position as chief executive officer at Utility Global, he spearheaded the global H₂ decarbonization agenda with multibillion-dollar low carbon intensity reference projects for Air Products. Prior to this he spent 27 years with Linde, with his last role as President, Global Helium, Rare and Specialty Gases. Mr. Nussgruber holds a degree in Chemical Engineering from the University of the Witwatersrand in South Africa, as well as an MBA from Heriott-Watt University in Scotland.