Ontario Power Generation and Ara Partners led a $53m Series C funding round in Utility Global.

Ontario Power Generation, an electricity generation firm, and Ara Partners, a Texas-based private equity firm, led a $53m Series C funding round in Utility Global, a gas production technology company, with participation from Arcelormittal and Saudi Aramco Energy Ventures. “We have a growing number of high-caliber investors supporting our commercialization. Customers and investors are seeking cost-effective, onsite decarbonization solutions that provide material reductions in greenhouse gas emissions this decade,” Claus Nussgruber, Utility Global CEO.