Immaterial, a Cambridge-based advanced materials and engineering solutions company, has closed its £13.5 million ($18.2 million) Series A2 funding round, marking a major step forward in its mission to deliver scalable, cost-effective decarbonization technologies for heavy industry. The funding round was led by SLB, with participation from existing investors AP Ventures, Moeve, and long-term backer and Chairman Jogchum Brinksma, as well as new investor Finindus, a joint venture between ArcelorMittal and the Flemish government.
The infusion of capital will support Immaterial’s plans to accelerate commercialization through a series of pilot projects with partners and customers in Europe and the United States. The company is also commissioning a multi-tonne manufacturing facility in Cambridge to produce and deploy its proprietary technology at scale.
Immaterial’s technology builds on the recent Nobel Prize-winning chemistry behind metal-organic frameworks (MOFs), advancing the field through the development of monolithic MOFs (m-MOFs)—ultra-dense, macroscopic crystals that retain exceptional thermal and chemical stability while preserving high gas storage performance. These materials enable major efficiency gains across carbon capture, hydrogen storage, water harvesting, and energy-efficient HVAC applications.
At the heart of the company’s platform is its “Wet-AI” technology, which integrates digital material discovery, green chemistry synthesis, and machine learning optimization to create tailored industrial solutions. This approach allows Immaterial to design, manufacture, and implement MOFs optimized for specific use cases, reducing both capital (CAPEX) and operating (OPEX) costs associated with industrial decarbonization.
Chief Executive Officer Mohammed Khan said the funding will accelerate the rollout of Generation 2 decarbonization system pilots with global industrial partners, helping customers reduce emissions while maintaining economic competitiveness. He emphasized that the addition of Finindus brings deep expertise in the steel sector—one of the key “hard-to-abate” industries Immaterial aims to decarbonize.
Immaterial remains the only company in the world capable of producing MOFs in monolithic form, giving it a unique position in the materials science and climate innovation space. The firm’s technology is already being validated through pilot programs in Europe, where it has demonstrated significant reductions in footprint and cost for carbon capture and hydrogen storage systems.
KEY QUOTES:
“We are delighted to have our existing investors continue with their commitment and demonstrate confidence in Immaterial and the team, and support us to scale a differentiated industrial solutions platform that delivers an economic transformation to our customers in hard to abate sectors. We are equally delighted to welcome Finindus as a new investor with deep knowledge of the global steel sector and look forward to their support as we roll out our Generation 2 decarbonization system pilots with our partners and customers.”
Mohammed Khan, Chief Executive Officer, Immaterial Ltd
“It is a special moment for me to realise the next phase of Immaterial’s journey, from pure academic ideas to products that solve timely challenges such as climate change; the confidence of our new investors in the technology is a testament to the potential of monolithic materials and I am thrilled to be making an impact with a Cambridge, UK, developed technology.”
Professor David Fairen-Jimenez, Chief Scientific Officer and Founder, Immaterial Ltd
“We are encouraged by the progress made so far by the Immaterial team in proving out their proprietary technology platform for developing and designing monolithic metal-organic framework (m-MOF) based solutions for industrial applications.”
Arindam Bhattacharya, Director of Ventures, SLB
