ArcelorMittal's XCarb Fund Invests $5 Million in Utility Global

ArcelorMittal S.A. (MT) announced a $5-million investment in Utility Global through its XCarb Innovation Fund, which was launched in 2021. The fund backs companies that develop breakthrough technologies aimed at decarbonizing steel production. This investment forms part of Utility Global's$53 million Series C funding round, led by Ontario Power Generation.Utility Global developed a patented reactor capable of processing variable industrial gases without electricity, converting them into high-purity hydroge ...