03:05 PM EDT, 09/25/2024 (MT Newswires) -- ArcelorMittal ( MT ) invested in Utility Global's $53 million Series C funding round through its XCarb Innovation Fund, Utility Global said Wednesday.

The financing was led by the OPG Pension Plan with participation from existing investors Ara Partners and Aramco Ventures, the firm said. It added that the funding will help accelerate the commercialization of its eXERO gas production technology, with plans to deploy the first commercial units in 2026.

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