Advanced materials innovator Immaterial has raised €15.4 million in Series A2 funding to accelerate the commercial rollout of its monolithic metal–organic frameworks (m-MOFs) — a breakthrough material platform designed to cut costs and boost efficiency across industrial decarbonisation, carbon capture, and hydrogen storage.
The round was led by SLB with participation from existing backers AP Ventures, Moeve, and Chairman Jogchum Brinksma, alongside new investor Finindus, a joint venture between ArcelorMittal and the Flemish Government.
“We’re thrilled to have the continued trust of our investors and to welcome Finindus as a new partner,” said Mohammed Khan, CEO of Immaterial. “This funding enables us to scale our differentiated industrial platform and deliver meaningful economic transformation to customers operating in hard-to-abate sectors.”
A New Era for Industrial Materials
Founded in 2015 out of the University of Cambridge, Immaterial builds on Nobel Prize–recognized chemistry for metal–organic frameworks (MOFs) — highly porous materials with extraordinary storage and separation capabilities.
The company’s proprietary monolithic MOFs (m-MOFs) combine this chemistry with advanced process engineering to create macroscopic, ultra-dense, and thermally stable structures. These materials enable industrial applications like:
- Point-source carbon capture for manufacturing and energy sites.
- Hydrogen storage for clean energy transport and refuelling.
- Water harvesting and HVAC optimisation for energy efficiency.
Unlike conventional powder-based MOFs, Immaterial’s monolithic design offers superior volumetric efficiency, reduced system footprint, and lower CAPEX/OPEX, making large-scale decarbonisation both technically and economically viable.
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Aligning With Europe’s Industrial Transition
The raise underscores a growing investor appetite for deeptech and materials-driven decarbonisation solutions across Europe. Recent rounds in the sector include Spain’s H2SITE (€36M) for hydrogen membrane reactors and Finland’s Hycamite (€25M) for methane-to-hydrogen conversion — highlighting the momentum behind industrial process innovation.
“We’re equally delighted to have Finindus on board,” added Khan. “Their deep knowledge of the global steel sector will be invaluable as we roll out our Generation 2 decarbonisation pilots with partners and customers.”
Immaterial’s Wet-AI platform — combining digital material discovery with green synthesis — is central to its approach, allowing for rapid iteration and customization of MOFs for specific industrial use cases.
From Cambridge Lab to Industrial Scale
The fresh funding will support:
- Pilot deployments in Europe and the U.S., including ongoing carbon-capture projects.
- The commissioning of a multi-tonne manufacturing facility in Cambridge to supply materials for customer pilots.
- Expansion of Immaterial’s engineering and partnerships teams to scale production and commercial operations.
“It’s incredibly rewarding to see our academic work evolve into solutions that tackle real-world challenges like climate change,” said Professor David Fairen-Jimenez, Founder and Chief Scientific Officer at Immaterial. “The confidence our investors have placed in us reflects the global potential of monolithic materials.”
Investor Perspective
“We’re encouraged by the progress made by Immaterial in proving its proprietary m-MOF platform for industrial use,” said Arindam Bhattacharya, Director of Ventures at SLB. “Their technology has the potential to redefine how energy and manufacturing sectors approach decarbonisation.”
About Immaterial
Immaterial Ltd. is a Cambridge-based advanced materials company pioneering monolithic metal–organic frameworks (m-MOFs) for use in carbon capture, hydrogen storage, water harvesting, and HVAC energy reduction. Its Wet-AI platform merges digital design with green chemistry synthesis to deliver scalable, high-performance materials for industrial decarbonisation. Founded in 2015, Immaterial is the only company globally capable of producing MOFs in monolithic form, offering compact, stable, and ultra-efficient solutions for next-generation clean-tech infrastructure.
