Aramco

Aramco Overseas Company (AOC), established in 1948, is a global service provider to Saudi Aramco, supporting its mission to supply energy worldwide. AOC offers a wide range of services, including purchasing and logistics, inspection, engineering, research and technology, IT, finance, legal, public relations, HR, international staffing, and executive services. With headquarters in The Hague and satellite offices across Europe, Asia, and the Middle East, AOC operates in regions excluding North America and Saudi Arabia. It also holds interests in refining companies and storage facilities, and has a history of operating in various global locations.

Mahdi Aladel

CEO

Tareq Amin

CEO of Aramco Digital

Frank Andrasco

Senior Investment Director

Daniel Carter

Investment Director

Chris Haase

Investment Director, North America

Hill, Michael

Investment Director

Hans Middelthon

Managing Director of SAEV Europe Venture Capital

Bruce Niven

Executive Managing Director, Strategic Venturing

Richard Riggs Ph.D

Investment Director, Europe

Anupam Singh

Senior Investment Director

Jim Sledzik

Managing Director, North America

Aysar Tayeb

Executive Managing Director, Prosperity7

Tibor Toth

Investment Director, North America

Moodhi Tubayyeb

Investment Associate

Iris Wu

Investment Associate, North America

Past deals in Industrial Engineering

Utility Global

Series C in 2024
Utility Global, Inc. is a company based in Provo, Utah, founded in 2018, that specializes in developing innovative technologies for a low-carbon future. The company has created eXERO™, a proprietary gas production technology that efficiently converts variable industrial process gases into high-purity hydrogen and a concentrated CO2 stream, without requiring electricity. This system allows for on-site carbon capture from a single location, enhancing cost-effectiveness. In the steelmaking industry, the hydrogen produced can be utilized as a substitute for coke, while the high purity of the CO2 stream simplifies and reduces the costs associated with carbon capture, playing a crucial role in the decarbonization of steel production.

Boston Metal

Series C in 2023
Boston Metal is a metallurgy company focused on reducing the carbon footprint of steel production through its innovative Molten Oxide Electrolysis (MOE) technology. Established in 2012 as a spin-off from MIT, the company has developed an industrial-scale solution that enables the efficient and cost-effective production of a diverse range of metals and alloys. Utilizing an electrolytic cell, Boston Metal processes raw iron ore to create ferroalloys, which are essential for producing various grades of steel. The company's advancements in MOE technology have resulted in a significant scaling of production capabilities, achieving a 1,000-fold increase and generating thousands of kilograms of metal. Headquartered in Woburn, Massachusetts, Boston Metal aims to provide a greener alternative for the metal industry by leveraging its unique process and a variety of feedstocks.

Utility Global

Venture Round in 2021
Utility Global, Inc. is a company based in Provo, Utah, founded in 2018, that specializes in developing innovative technologies for a low-carbon future. The company has created eXERO™, a proprietary gas production technology that efficiently converts variable industrial process gases into high-purity hydrogen and a concentrated CO2 stream, without requiring electricity. This system allows for on-site carbon capture from a single location, enhancing cost-effectiveness. In the steelmaking industry, the hydrogen produced can be utilized as a substitute for coke, while the high purity of the CO2 stream simplifies and reduces the costs associated with carbon capture, playing a crucial role in the decarbonization of steel production.

Nanomech

Series C in 2016
NanoMech, was founded in 2002 and creates advanced engineering materials through patent and patent-pending nano-inspired and nano-manufactured product development. NanoMech is a pioneer in applying breakthrough nano-engineered innovations to robust areas of national interest including machining and manufacturing, lubrication and energy, and strategic military applications. NanoMech brings ideas from innovation to implementation, commercializing nanomanufactured products at record speed in the market. NanoMech is a member of President Obama’s Materials Genome Initiative, a public / private collaboration with the aim of doubling the speed and reducing the cost of discovering, developing, and deploying new advanced materials. NanoMech is also a member of the U.S. Manufacturing Competitiveness Initiative (USMCI) and the U.S. Technology Leadership and Strategy Initiative, (www.Compete.org) both based in Washington, DC.

InflowControl

Private Equity Round in 2013
InflowControl AS specializes in developing inflow control technology aimed at enhancing recovery and production from oil and gas reservoirs. Established in May 2011 and headquartered in Porsgrunn, Norway, the company is founded and managed by individuals with over 15 years of experience in passive and autonomous inflow control devices. InflowControl’s innovations focus on creating devices that improve recovery factors, decrease water cut and gas-oil ratios, and enhance drainage efficiency in both offshore and onshore wells. The company employs a quality management system compliant with ISO standards and holds Achilles certification as a supplier for the oil industry in Norway and Denmark. With a strong emphasis on innovation, the team is involved in all aspects of inflow control device development, from design to production, enabling industrial companies to maximize oil and gas recovery.
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