FluoRok, an Oxford spinout, has raised $30 million in a Series A round led by Orano Venture Fund and its manager, Supernova Invest. The round was oversubscribed. The company, founded in 2022, makes battery and pharma chemicals without toxic hydrogen fluoride (HF). Most lithium-ion batteries use lithium hexafluorophosphate (LiPF6), and China produces roughly 85-90% of it, according to Fastmarkets. The money will fund demonstrator facilities for reagents and battery electrolyte salts, hiring, customer validation at scale, and commercial partnerships. Total equity funding now stands at around $44 million. FluoRok's process runs on standard equipment and can use lower-grade fluorspar or fluoride recovered from industrial waste. Its European Innovation Council project aims to make it the first EU-based LiPF6 producer.

Quantum Base Holdings (AIM: QUBE) has won a £0.7 million non-dilutive grant from UK Research and Innovation (UKRI) through its Future Leaders Fellowship programme. The money backs a four-year research project led by Dr William Thom, head of materials science, running from November 1, 2026 to October 31, 2030, with a possible three-year extension. The grant should cover about 70% of the cost of a research team already in the company's budget, lowering net operating costs without diluting shareholders. The project, called Q-MAT, aims to develop quantum materials for Q-ID®, Quantum Base's patented authentication system. It also seeks to extend the technology to glass, metals, and polymers, which could open markets such as aerospace components and polymer banknotes. The work will take place at the company's Lancaster facility, and Quantum Base will keep all intellectual property.