FluoRok raises £7.7m ($9.8m) to transform the safety and sustainability of fluorochemical production

2024-09-25 FluoRok Limited HaiPress

OXFORD,England,Sept. 23,2024 -- FluoRok,an Oxford-based start-up,has raised £7.7m to scale-up,manufacture and commercialise novel fluorochemical reagents and battery electrolyte salts. The oversubscribed round was led by BGF alongside Green Generation Fund and included battery specialist Volta Energy Technologies,current investors (Oxford Science Enterprises and University of Oxford),Excellis Holding and angels.


FluoRok team

Founded in 2022,FluoRok is a University of Oxford spin-out that has developed an innovative patented method to access fluorochemicals,chemicals containing the element fluorine and key to global energy transition,healthcare and food supply.

With a growing market valued at $24bn,fluorochemical manufacturing relies on a centuries-old,carbon-intensive process centred around hydrogen fluoride (HF),a highly-toxic,hazardous and difficult-to-handle chemical. FluoRok has developed a safe and sustainable approach completely bypassing HF and providing environmentally friendly access to fluorochemicals while reducing process costs. FluoRok's groundbreaking innovation has gained substantial traction,attracting numerous potential customers across core markets of Li-ion battery electrolyte salts and agrochemicals.

The funding will support team growth and expanded production facilities for the initial supply of 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,Green Generation Fund and Volta Energy Technologies to our investor base. Their experience of building breakthrough businesses in battery and sustainable technologies is invaluable. With an outstanding investor syndicate,we continue our mission to make fluorochemicals production safer,cheaper,and more sustainable. This investment is criticalin scaling and commercialising our proprietary technology with partners across the global fluorochemical supply chain,and in accelerating technology that will 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. Particularly encouraging is significant early demand from customers worldwide and we 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: "FluoRok's revolutionary process offers a breakthrough for the fluorination industry,enabling access to compounds fundamental to energy transition,global food supply,and health. As we continue our mission toward a resilient and sustainable future,GGF is thrilled to partner with a future global leader in fluorination and supply chain independence."

Dr Jeff Chamberlain,CEO and Founder of Volta Energy Technologies said: "Volta is enthused and eager to support FluoRok as it commercialises and scales its unique fluorinating agents. The use of FluoRok's reagents in the battery industry promises to enable production of fluorinated electrolyte salts,like LiPF6,without the use of toxic and corrosive hydrofluoric acid. This will reduce barrier-to-entry to the electrolyte industry in Europe and North America. Beyond the battery industry,numerous applications for FluoRok reagents provide potential to have an impact in many global markets."

Notes:


www.fluorok.comwww.bgf.co.ukwww.greengenerationfund.com


www.volta.vc

Enquiriesinfo@fluorok.com

Disclaimer: This article is reproduced from other media. The purpose of reprinting is to convey more information. It does not mean that this website agrees with its views and is responsible for its authenticity, and does not bear any legal responsibility. All resources on this site are collected on the Internet. The purpose of sharing is for everyone's learning and reference only. If there is copyright or intellectual property infringement, please leave us a message.
©copyright 2009-2020 The Age of Australia      Contact Us   SiteMap