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