FluoRok raises £7.7m to transform the safety and sustainability of fluorochemical production
FluoRok, an ARC Oxford-based start-up has raised £7.7 million for the scale-up, manufacture and commercialisation of novel fluorochemical reagents and battery electrolyte salts. The oversubscribed funding round was led by BGF alongside Green Generation Fund and also included battery and energy solution specialist Volta Energy Technologies, FluoRok’s current investors (Oxford Science Enterprises and University of Oxford), Excellis Holding and angels.
Founded in 2022, FluoRok is a University of Oxford spin-out that has developed a highly innovative and 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.
With a growing global market currently valued at $24 billion, 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. In contrast, FluoRok has developed a safe and sustainable approach which completely bypasses HF and provides an environmentally friendly access to fluorochemicals while reducing process costs. FluoRok’s groundbreaking innovation has gained substantial commercial traction, attracting 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.
Dr Gabriele Pupo, CEO and founder of FluoRok, 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 syndicate 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.”
Dennis Atkinson, investor at BGF, said:
“FluoRok’s approach transforms the safety and sustainability of fluorochemical production while reducing costs. We are particularly encouraged by the significant early demand from customers across the globe and look forward to supporting FluoRok’s journey to disrupt the global market and reach commercial scale.”
Manon Littek, founding partner at Green Generation Fund, said:
“luoRok’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.”
FluoRok is joining other members at ARC Oxford, who are focused on solving some of the greatest global challenges humanity faces, including: Oxford Biomedica, which is delivering life changing therapies to patients, Ivy Farm, which is improving sustainability in the meat industry and Accession Therapeutics whose mission is to eradicate cancers by harnessing the immune system.
Demand for lab space across Oxfordshire remains high with lab vacancy rates less than 1% in Oxford, which is why ARC has repurposed accommodation on the campus to provide laboratories, to overcome the shortage across the city and to help FluoRok to scale at pace.
