FluoRok, an Oxford-based start-up, has secured £7.7 million ($9.8 million) in an oversubscribed funding round to scale, manufacture, and commercialize its innovative fluorochemical reagents and battery electrolyte salts. The round was led by BGF, with participation from Green Generation Fund, Volta Energy Technologies, Oxford Science Enterprises, the University of Oxford, Excellis Holding, and angel investors.
With this significant backing, FluoRok is poised to play a key role in transforming the fluorochemical industry and driving sustainability in the production of crucial materials for batteries and other applications.
Founded in 2022 as a spin-out from the University of Oxford, FluoRok has developed a patented method to produce fluorochemicals, which are critical in sectors like energy, healthcare, and agriculture. Traditionally, fluorochemical manufacturing relies on hydrogen fluoride (HF), a highly toxic and hazardous chemical. FluoRok’s breakthrough technology completely bypasses HF, offering a safer, more sustainable, and cost-effective way to produce fluorochemicals.
With the global fluorochemical market valued at $24 billion, FluoRok’s innovative approach is gaining attention across industries, particularly in the production of Li-ion battery electrolyte salts and agrochemicals. The company aims to disrupt the centuries-old fluorochemical production process with environmentally friendly solutions.
The newly raised funds will be used to expand FluoRok’s team and production facilities, enabling the company to meet the growing demand for its fluorinating reagents and lithium hexafluorophosphate (LiPF6), a critical component in Li-ion batteries.
Dr. Gabriele Pupo, CEO and founder of FluoRok, expressed enthusiasm about the investment: “We are delighted to welcome BGF, Green Generation Fund, and Volta Energy Technologies to our investor base. Their experience in battery and sustainable technologies will be invaluable as we scale our operations and commercialize our technology. This investment is crucial for advancing our mission to make fluorochemical production safer, cheaper, and more sustainable.”
BGF investor Dennis Atkinson highlighted the potential impact of FluoRok’s innovation: “FluoRok’s approach transforms the safety and sustainability of fluorochemical production while reducing costs. The significant early demand from customers globally shows the potential to disrupt the market and reach commercial scale.”
Manon Littek, founding partner at Green Generation Fund, emphasized the broader impact of FluoRok’s technology: “FluoRok’s revolutionary process offers a breakthrough for the fluorination industry, enabling sustainable access to compounds essential to energy transition, global food supply, and health. We are excited to support a future leader in fluorination and supply chain independence.”
Dr. Jeff Chamberlain, CEO and founder of Volta Energy Technologies, added: “FluoRok’s technology promises to enable the production of fluorinated electrolyte salts, such as LiPF6, without the use of toxic HF. This innovation reduces barriers to entry for the electrolyte industry in Europe and North America and holds potential for many other global markets.”
