FluoRok raises $30M to cut toxic acid from battery supply chains
What's the deal? FluoRok, an Oxford spinout, has raised $30 million in a Series A round led by Orano Venture FundDealroom has a profile for this one. Try Dealroom → and Supernova InvestDealroom has a profile for this one. Try Dealroom →. The company makes battery and pharmaceutical chemicals without hydrogen fluoride (HF), a highly toxic reagent that conventional production relies on.
Why now? Most lithium-ion batteries use lithium hexafluorophosphate (LiPF₆), and China produces roughly 85-90% of it, according to Fastmarkets. HF limits where new plants can be sited, giving Western manufacturers a supply-chain and safety problem to solve.
What's the endgame? The money will fund demonstrator facilities for reagents and electrolyte salts, further hiring, customer validation at scale, and commercial partnerships. FluoRok wants to prove its HF-free process works at industrial scale.
By the numbers: The round was oversubscribed and well above target. It ranks in the 95th percentile among all-time UK transport Series A rounds. FluoRok has previously raised $14 million and received over $13 million in public funding, bringing total equity funding to around $44 million.
The round also included about $1.3 million in Innovate UK grant funding. Bidra Innovation Ventures joined, while Oxford Science EnterprisesDealroom has a profile for this one. Try Dealroom →, BGFDealroom has a profile for this one. Try Dealroom →, Green Generation FundDealroom has a profile for this one. Try Dealroom →, Volta Energy TechnologiesDealroom has a profile for this one. Try Dealroom →, and the University of Oxford returned. CPI Enterprises, EverQuest Capital PartnersDealroom has a profile for this one. Try Dealroom →, WS InvestmentDealroom has a profile for this one. Try Dealroom →, and several angels also backed the company.
Founded in 2022 by Oxford chemistry professor Véronique Gouverneur and Gabriele Pupo, FluoRok says its mechanical activation process runs on standard equipment and can use lower-grade fluorspar or fluoride recovered from industrial waste.
"Closing another oversubscribed round ... is a testament to the strength of our technology, the incredible commercial traction and the speed of execution of the FluoRok team," said Pupo, the chief executive officer.
What could go wrong? FluoRok has moved from lab to pilot scale and signed a letter of intent with electrolyte maker Green Energy OriginDealroom has a profile for this one. Try Dealroom →, but that deal depends on qualification and commercial terms. Established players dominate: Orbia's KouraDealroom has a profile for this one. Try Dealroom → is building a 10,000-tonne LiPF₆ plant in Louisiana, while China's Do-Fluoride, Tinci, Capchem, and Foosung are well entrenched.
The signal: The round is a bet on industrial scale-up and supply-chain diversification, not yet proof FluoRok can deliver competitive volumes. Policy tailwinds help: the EU's ReSourceEU plan commits up to €3 billion in 2026 to critical raw materials, and FluoRok aims to become the first EU-based LiPF₆ producer.
Read more: Tech Funding News
Image credit: Fluorok
