FluoRok established by the University of Oxford has recently received £7.7 million for seed investments. This financing round is to further develop and popularize new fluorochemical reagents and battery electrolyte salts, which is a turning point for the company to transform the fluorochemical industry.
Mission of FluoRok
FluoRok was founded in 2022. FluoRok was founded at the University of Oxford and has a mission to revolutionize the creation of fluorochemicals. Fluorides are chemical compounds containing fluorine, a versatile element primarily used in the energy, healthcare, and agriculture sectors. Conventional methods of manufacturing fluorochemicals use hydrogen fluoride (HF), which is known to be lethal and dangerous for human health. FluoRok introduced a new technology that eliminates the need for HF and was, therefore, safer and more sustainable.
The CEO and founder of FluoRok, Dr. Gabriele Pupo said, “We are delighted to welcome BGF and Green Generation Fund along with Volta Energy Technologies to our investor base. Their experience of building successful break-through technology businesses in battery and sustainable technologies will be invaluable. With an outstanding investor syndicate to support us, we continue our mission to make fluorochemicals production safer, cheaper, and more sustainable.
This investment will play a huge part in our journey to scale and commercialise our proprietary technology with key partners across the global fluorochemical supply chain, and in accelerating the development of a technology that can provide a reliable and localised supply of a key component of Li-ion batteries.”
Quotation Source: Tech Funding News
Funding Details
The funding round was supported by BGF, Green Generation Fund, and Volta Energy Technologies as a battery specialist. Other participating investors were Oxford Science Enterprises Investors the University of Oxford, Excellis Holding, and several angels. This diverse investor pool provides FluoRok with a wealth of experience and capital to achieve its strategic objectives.
FluoRok is set to utilize the £7.7 million funding to increase the company’s capacity for growth. The company’s intentions include the construction of new production facilities to accommodate the demand for its fluorinating reagents and LiPF6, a lithium-ion battery constituent.
FluoRok’s Patented Technology
FluoRok’s patented technology is a major improvement in methods of fluorination. Here the company has realized a process that is safer than the use of HF and that which is cheaper and friendly to the environment. The high demand from potential customers in strategic market segments such as Lithium-ion Battery Electrolyte Salts and Agrochemicals.
The approach is consistent with the increasing demand for effective and environmentally friendly chemical processes. The market for fluorochemicals has been estimated to be $24 billion. With FluoRok’s new technology, the firm will be unique in penetrating this market by offering environmentally friendlier chemistries.
Team Growth
The expansion will also assist with growth, and offer FluoRok the ability to push into increased revenues for its patented technology faster. The innovative approach used by FluoRok has proved worthy and the company has received a lot of interest from potential customers in the identified core markets. The commitment of the company to sustainability and safety puts it ahead of other fluorochemicals firms to transform chemical manufacturing standards in the sector.
Conclusion
The recent £7.7 million funding round to FluoRok aims at changing fluorochemical production. FluoRok has the opportunity to revolutionize the chemical industry by creating a solution that is safer, more sustainable, and more cost-effective than current methods.
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