An Oxford-based start-up, FluoRok, has secured £7.7 million in funding to advance the production and commercialisation of innovative fluorochemical reagents and battery electrolyte salts. The funding round, which was oversubscribed, was led by BGF with participation from Green Generation Fund, battery specialists Volta Energy Technologies, Oxford Science Enterprises, and the University of Oxford, alongside Excellis Holding and angel investors.
FluoRok, a spin-out from the University of Oxford, was established in 2022. The company has developed a novel, patented method to produce fluorochemicals, compounds crucial for a variety of sectors including energy transition, healthcare, and global food supply. Fluorochemicals, which contain the element fluorine, play a vital role in industries like battery technology, but their traditional production methods are carbon-intensive and reliant on the hazardous chemical hydrogen fluoride (HF).
The fluorochemical industry, currently valued at $24 billion, continues to rely on processes dating back centuries that use HF, a toxic and dangerous substance. However, FluoRok has developed a safer, more environmentally sustainable alternative that bypasses the need for HF altogether. This innovation not only reduces the hazards associated with fluorochemical production but also cuts costs, making it an attractive option for industries requiring these chemicals.
The funds raised will enable FluoRok to expand its team and scale up its production capabilities, with a focus on fluorinating reagents and lithium hexafluorophosphate (LiPF6), a key component in lithium-ion batteries. LiPF6 is integral to the global electric vehicle (EV) industry, and FluoRok’s environmentally friendly production process positions the company to become a significant player in this rapidly growing market.
Dr Gabriele Pupo, CEO and founder of FluoRok, expressed enthusiasm about the company’s future following the investment. “We are delighted to welcome BGF, Green Generation Fund, and Volta Energy Technologies to our investor base. Their experience in building breakthrough businesses in battery and sustainable technologies is invaluable. With an outstanding investor syndicate, we continue our mission to make fluorochemical production safer, cheaper, and more sustainable. This investment is crucial in scaling and commercialising our proprietary technology with partners across the global fluorochemical supply chain,” Pupo said.
BGF investor Dennis Atkinson highlighted the potential of FluoRok’s approach, stating: “FluoRok is transforming the safety and sustainability of fluorochemical production while lowering costs. Early demand from customers worldwide is particularly encouraging, and we look forward to supporting FluoRok’s journey to commercial scale and market disruption.”
Green Generation Fund’s founding partner, Manon Littek, noted the broader impact of FluoRok’s innovation, saying: “FluoRok’s revolutionary process is a breakthrough for the fluorination industry, providing compounds essential to energy transition, food supply, and healthcare. We are excited to partner with a company poised to become a global leader in fluorination.”
Volta Energy Technologies founder and CEO, Dr Jeff Chamberlain, emphasised the importance of FluoRok’s innovation to the battery industry, stating: “FluoRok’s reagents promise to enable safer, more sustainable production of fluorinated electrolyte salts, reducing entry barriers for the electrolyte industry in Europe and North America. Beyond batteries, FluoRok has the potential to impact many global markets.”
The funding marks a significant milestone for FluoRok as it seeks to disrupt traditional fluorochemical manufacturing and address the growing demand for greener, safer alternatives in key industries.
For more information, visit:
www.fluorok.com
www.bgf.co.uk
www.greengenerationfund.com
www.volta.vc