Oxfordshire based deep-tech start-up company FluoRok, has raised £7.7million ($9.8m) for the scale-up, manufacture and commercialisation of novel fluorochemical reagents and battery electrolyte salts.
Founded in 2022, FluoRok is a University of Oxford spin-out that has developed a unique patented method to access fluorochemicals, a group of chemicals that contain the element fluorine and are key to the world’s energy transition, healthcare and food supply.
The manufacture of fluorochemicals currently relies on a centuries-old, carbon-intensive process centred around hydrogen fluoride (HF), one of the most toxic, hazardous and difficult-to-handle chemicals known.
Contrastingly, FluoRok has developed a safe and sustainable approach which bypasses HF and provides an environmentally friendly access to fluorochemicals while reducing process costs.
FluoRok’s innovation has attracted a large pool of potential customers across its core markets, the Li-ion battery electrolyte salts and agrochemicals industries.
The funding will support FluoRok’s team growth and expansion of its production facilities for the initial supply of its fluorinating reagents and lithium hexafluorophosphate (LiPF6), a key component of lithium-ion batteries.
CEO and founder of FluoRok Dr Gabriele Pupo, said: “We are delighted to welcome BGF and Green Generation Fund along with Volta Energy Technologies to our investor base. Their experience of building successful break-through technology businesses in battery and sustainable technologies will be invaluable.
With an outstanding investor sindicate to support us, we continue our mission to make fluorochemicals production safer, cheaper, and more sustainable.
This investment will play a huge part in our journey to scale and commercialise our proprietary technology with key partners across the global fluorochemical supply chain, and in accelerating the development of a technology that can provide a reliable and localised supply of a key component of Li-ion batteries.”
Manon Littek, founding partner at Green Generation Fund, said: “FluoRok’s revolutionary process offers a breakthrough for the fluorination industry, enabling access to high-value compounds that are fundamental to the energy transition, global food supply, and our health.
As we continue our mission toward a resilient and sustainable future, the Green Generation Fund is thrilled to partner with what we anticipate will become one of the global leaders in fluorination and supply chain independence.”
Dr Jeff Chamberlain, CEO and Founder of Volta Energy Technologies said: “Volta is very enthused about its investment in FluoRok, and is eager to support the company as it commercialises and scales its unique fluorinating agents. The use of FluoRok reagents in the battery industry promises to enable the production of fluorinated electrolyte salts, like LiPF6, without the need to use toxic and corrosive hydrofluoric acid.This will reduce the barrier to entry for new players in the electrolyte industry in Europe and North America.
The wide number of applications for FluoRok reagents beyond the battery industry provide great potential for FluoRok to have an impact in many markets across the globe.”
Image provided by Fluorok