$30 million for FluoRok

The British deep-tech startup FluoRok has raised $30 million (22.8 million pounds) in an oversubscribed Series A funding round. The Oxford University spin-off is developing a novel manufacturing process for fluorochemicals that does not require highly hazardous hydrofluoric acid. The company plans to use the capital to scale its technology from the pilot stage to industrial production and tap into new markets.

Fluorochemicals are indispensable in numerous industries. They are used, among other things, in pharmaceuticals, crop protection products, and lithium-ion batteries. About one in five medications and one in three agrochemical products on the market contain fluorine. At the same time, the industrial production of many of these compounds is still based on a process whose origins date back some 250 years.

The problem lies in the use of hydrogen fluoride, also known as hydrofluoric acid (HF). The substance is highly toxic, difficult to handle, and requires extensive safety measures. Added to this is the dependence on high-purity fluorspar, a critical raw material sourced from only a few countries, particularly China.

The startup aims to reduce these dependencies and fundamentally transform the production of fluorochemicals. For its next phase of development, the company has now secured $30 million in Series A funding.

The round was led by the Orano Venture Fund and Supernova Invest. Other investors include Bidra Innovation Ventures as well as existing investors Oxford Science Enterprises, BGF, GGF, Volta Energy Technologies, and the University of Oxford.

New Technology Aims to Replace Hazardous Chemicals

FluoRok is pursuing an alternative manufacturing approach that allows fluorochemicals to be produced without the use of hydrogen fluoride. Instead of relying on acids and high temperatures, the technology uses mechanical activation.

A key advantage is that the process can be operated using standard industrial equipment that is already available. This is expected to enable new production facilities to be set up more quickly and reduce investment costs.

Furthermore, according to the company, FluoRok can also use fluoride feedstocks of lower purity as well as recovered fluorides from industrial waste streams. In the long term, this could help diversify supply chains and reduce dependence on a small number of raw material suppliers.

The technology is not limited to a single product. Initially, the company is focusing on inorganic fluorides for the pharmaceutical and agrochemical industries, as well as lithium hexafluorophosphate (LiPF₆), an important electrolyte salt for lithium-ion batteries.

An alternative manufacturing method could be particularly interesting in the battery sector, as the expansion of electric mobility and stationary energy storage is creating additional demand for these materials.

From University Spin-off to Industrial Manufacturer

FluoRok is a spin-off from the University of Oxford and has already tested its technology on a pilot scale. According to the company, initial qualification processes have been successfully completed and key customer relationships have been established.

The new funding is now intended to facilitate the transition to industrial production. The company plans to build demonstration facilities for chemical reagents and electrolyte salts, which it will use to demonstrate the repeatable production of larger quantities.

At the same time, the company plans to expand its team, validate products on a larger scale in collaboration with customers, and establish additional industrial partnerships.

According to the company, the Series A round was oversubscribed and exceeded the originally targeted funding amount. FluoRok had previously raised $14 million in earlier funding rounds. In addition, the company has received more than $13 million in public funding from the United Kingdom and Europe.

For founder and CEO Dr. Gabriele Pupo, the funding represents an important step toward transforming the young technology company into an industrial manufacturer.

The main challenge now lies in scaling up. While the process already works on a pilot scale, FluoRok must demonstrate its cost-effectiveness and reliability under industrial production conditions.

If this step is successful, the company could not only set new standards for the safety of chemical production processes but also contribute to building more resilient supply chains in the European chemical and battery industries.