FluoRok, an Oxford-based chemical manufacturing startup, has raised €26.64 million ($30 million) in a Series A round to scale its patented process for producing fluorochemicals without hydrogen fluoride (HF), a highly hazardous industrial chemical.
The round was led by Orano Ventures Fund/Supernova Invest, with participation from Bidra Innovation Ventures and existing investors Oxford Science Enterprises, BGF, GGF, Volta Energy Technologies and the University of Oxford. The company said the financing exceeded its original target. It also included angel investors and smaller partners, alongside approximately €1.15 million ($1.3 million) in grant funding from Innovate UK.
Founded in 2022 as a University of Oxford spin-out, FluoRok says its process replaces conventional HF-based production with mechanical activation and base chemistry. It can use lower-grade mineral sources and fluoride-containing industrial waste, and is designed to operate with off-the-shelf industrial equipment.
The company says it has completed pilot qualifications and that its products are being validated by more than ten partners across eight countries and three continents. Its target markets include pharmaceuticals, agrochemicals and lithium-ion battery manufacturing.
FluoRok plans to use the new funding to build demonstration facilities for its reagents and battery electrolyte salts, grow its team and strengthen commercial partnerships. It also aims to scale production of battery materials including LiFSI and FEC, and develop a process to turn fluorinated polymer waste into chemical intermediates.
The Series A adds to €12.43 million ($14 million) raised in earlier rounds and more than €11.54 million ($13 million) in UK and European public funding, according to the company.
Sources: EU-Startups.