Mishcon de Reya recently advised FluoRok, an Oxford-based spinout company, on its recent fundraising round of £7.7 million. The investment will accelerate the scale-up, manufacture, and commercialisation of FluoRok's novel fluorochemical reagents and battery electrolyte salts.
The funding round was led by BGF alongside Green Generation Fund, with contributions from Volta Energy Technologies, and the continued support from existing investors.
FluoRok, founded in 2022 as a spin-out from the University of Oxford, has developed a patented method for producing fluorochemicals. These chemicals are essential for various industries, including energy, healthcare, and food supply, and represent a global market worth $24 billion. FluoRok's technology offers a safe and sustainable alternative to the traditional, carbon-intensive methods centred around hydrogen fluoride (HF), a highly toxic and hazardous chemical.
The investment will enable FluoRok to expand its team and production facilities, particularly for the initial supply of its fluorinating reagents and lithium hexafluorophosphate (LiPF6), a crucial component for lithium-ion batteries.
Mishcon de Reya's team, led by Nicola McConville and Kunal Sankhla, provided legal advice and support throughout the fundraising process, ensuring a smooth and successful transaction for FluoRok and its investors.
Nicola McConville and Kunal Sankhla of Mishcon de Reya commented: "We are thrilled to have supported FluoRok in this significant phase of their growth. Their approach to fluorochemicals not only represents a leap forward in sustainable manufacturing but also positions them at the forefront of the industry. We look forward to supporting the company and its talented team in the years to come."