FluoRok, an Oxford-based startup, has secured £7.7 million in funding to accelerate its mission to transform the production of fluorochemicals. This oversubscribed funding round was led by BGF, alongside Green Generation Fund and Volta Energy Technologies, with participation from existing investors Oxford Science Enterprises, University of Oxford, Excellis Holding, and angel investors.
Founded in 2022 as a University of Oxford spin-out, FluoRok has developed a groundbreaking patented method for accessing fluorochemicals, chemicals containing fluorine that are crucial for the global energy transition, healthcare, and food supply. The current fluorochemical manufacturing process, reliant on hydrogen fluoride (HF), is centuries old, carbon-intensive, and poses significant risks due to the highly toxic and hazardous nature of HF. FluoRok’s innovative approach completely bypasses HF, offering a safe and sustainable alternative that significantly reduces process costs.
The company’s technology has garnered significant traction, attracting interest from potential customers across key markets like Li-ion battery electrolyte salts and agrochemicals. The new funding will be used to expand the FluoRok team, build larger production facilities, and initially supply fluorinating reagents and lithium hexafluorophosphate (LiPF6), a critical component of lithium-ion batteries.
Dr. Gabriele Pupo, CEO and founder of FluoRok, expressed enthusiasm about the new investors, stating: “We are thrilled to welcome BGF, Green Generation Fund, and Volta Energy Technologies to our investor base. Their expertise in developing breakthrough businesses in the battery and sustainable technologies sectors is invaluable. This investment is crucial in scaling and commercializing our proprietary technology with partners across the global fluorochemical supply chain, accelerating the development of a reliable and localized source for a key component of Li-ion batteries.”
Dennis Atkinson, investor at BGF, highlighted the significance of FluoRok’s approach, stating: “FluoRok’s method revolutionizes the safety and sustainability of fluorochemical production while reducing costs. The significant early demand from customers worldwide is particularly encouraging, 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, emphasized the transformative nature of FluoRok’s technology, saying: “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 towards 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, expressed Volta’s commitment to supporting FluoRok’s commercialization efforts: “Volta is enthused and eager to support FluoRok as it commercializes 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 barriers to entry for the electrolyte industry in Europe and North America. Beyond the battery industry, numerous applications for FluoRok reagents have the potential to impact many global markets.”
FluoRok’s success in securing this substantial funding underscores the significant potential of its innovative technology to revolutionize the fluorochemical industry, making it safer, more sustainable, and more accessible for a wide range of applications crucial to global development.
