Oxford's FluoRok raises €26.64 million Series A for fluorochemicals made without hydrogen fluoride

Oxford-based FluoRok, a University of Oxford spin-out founded in 2022, has closed a €26.64 million ($30 million) Series A round, according to EU-Startups. eu-startups.comEU-Startupseu-startups.comOpen source ↗ The round was led by Orano Ventures Fund/Supernova Invest, with Bidra Innovation Ventures participating. Existing backers Oxford Science Enterprises, BGF, GGF, Volta Energy Technologies and the University of Oxford also took part. eu-startups.comEU-Startupseu-startups.comOpen source ↗

FluoRok says the round exceeded its original target. It included several angel investors, smaller partners such as EverQuest Capital Partners, CPI Enterprises and WS Investment, and about €1.15 million ($1.3 million) in grant funding from Innovate UK through its Investor Partnerships programme. eu-startups.comEU-Startupseu-startups.comOpen source ↗

Fluorochemicals without hydrogen fluoride

Conventional fluorochemical production relies on a 250-year-old process that depends on hydrogen fluoride (HF), one of the most hazardous chemicals in industrial use. It also depends on high-purity fluorspar predominantly sourced from China. According to the company, this creates safety, supply and cost risks. eu-startups.comEU-Startupseu-startups.comOpen source ↗

FluoRok's patented platform bypasses the HF-based route. It combines mechanical activation with base chemistry to release fluorine from lower-grade mineral sources and from fluoride-containing industrial waste streams under controllable conditions. The company says the process runs on off-the-shelf industrial equipment, which makes it faster and easier to scale. eu-startups.comEU-Startupseu-startups.comOpen source ↗

The target markets are pharmaceuticals, agrochemicals and lithium-ion battery manufacturing. FluoRok says it has completed pilot qualifications and that its products are being validated by more than ten partners in eight countries across three continents. eu-startups.comEU-Startupseu-startups.comOpen source ↗

Funding and plans

The Series A builds on €12.43 million ($14 million) raised in earlier rounds and more than €11.54 million ($13 million) in UK and European public funding to date. eu-startups.comEU-Startupseu-startups.comOpen source ↗ The company plans to build demonstrator facilities for its reagents and battery electrolyte salts, expand its team and deepen commercial partnerships. eu-startups.comEU-Startupseu-startups.comOpen source ↗

FluoRok also plans to scale the platform for battery products such as LiFSI and FEC. A further direction is a waste-to-value stream that converts fluorinated polymer waste into high-value chemical intermediates. More than 25,000 tonnes of such waste is incinerated annually in Europe alone. eu-startups.comEU-Startupseu-startups.comOpen source ↗

Florian de Beauchaine of Orano Venture Fund/Supernova Invest said FluoRok has already shown that its process works at pilot scale. Founder and CEO Gabriele Pupo said the funding should help the company move from start-up to scale-up. eu-startups.comEU-Startupseu-startups.comOpen source ↗