Cambridge’s Immaterial Raises €15.4 Million to Revolutionize Industrial Decarbonisation with Monolithic MOF Systems

Immaterial, a Cambridge-based advanced materials company, has successfully closed its Series A2 funding round, raising €15.4 million. The round was led by SLB, with participation from existing investors such as AP Ventures, Moeve, and Chairman Jogchum Brinksma, as well as new investor Finindus (ArcelorMittal-Flemish Government).

CEO Mohammed Khan expressed delight in the continued support from existing investors and the confidence they have shown in Immaterial. The company aims to scale its industrial solutions platform to provide economic transformation in hard-to-abate sectors.

The Series A2 round reflects a growing trend in DeepTech innovations supporting industrial decarbonization in Europe by 2025. H2SITE in Spain also raised €36 million to scale its hydrogen membrane and reactor technology for various applications, showcasing investor interest in material-driven process engineering.

Immaterial’s focus on metal-organic frameworks and advanced material engineering aligns with Europe’s strategic funding emphasis on practical decarbonization infrastructure. The company’s work in carbon capture, hydrogen storage, and HVAC energy reduction is seen as crucial for achieving decarbonization goals.

Welcoming Finindus as a new investor, CEO Mohammed Khan highlighted the company’s expertise in the global steel sector and its potential support in rolling out Generation 2 decarbonization system pilots.

Founded in 2015, Immaterial builds on recent Nobel Prize-winning chemistry for metal-organic frameworks by applying monolithic metal-organic frameworks (m-MOFs) in various industrial sectors. The company aims to reduce the financial cost of industrial decarbonization by offering bespoke advanced materials manufactured at scale through proprietary methods.

Immaterial’s proprietary technology platform enhances existing MOFs to deliver augmented volumetric effluent effects. Pilot use cases include carbon capture, hydrogen storage, water harvesting, and HVAC energy reduction solutions.

Chief Scientific Officer Professor David Fairen-Jimenez expressed excitement about transitioning from academic ideas to practical solutions that address climate change. The company’s capital raise will accelerate commercialization plans through pilot projects in Europe and the U.S.

Immaterial’s unique ability to produce MOFs in monolith form sets it apart in the industry. The company leverages ‘Wet-AI’ technology for digital discovery and design of new materials, optimizing them for industrial readiness.

Immaterial is commissioning a manufacturing facility in Cambridge to supply its pilots to collaborating customer sites. SLB’s Director of Ventures, Arindam Bhattacharya, commended the company’s progress in developing m-MOF-based solutions for industrial applications.

Overall, Immaterial’s innovative approach to advanced materials and decarbonization solutions positions it as a key player in the evolving landscape of industrial transformation.