BELFAST, Northern Ireland--(BUSINESS WIRE)--Belfast-based MOF Technologies Ltd. has received significant investment from London-based Excelsa Ventures and Queen’s University’s research commercialization arm, QUBIS.
The combined investment comes principally from Excelsa, the venture arm of the Sturrock and Robson Group. This fourth generation family business is a perfect fit for MOF Technologies, given the focus of its investment portfolio, which is guided by a strong commitment to ethical, responsible entrepreneurship.
Established in part by QUBIS Ltd in 2012 - in partnership with inventor Professor Stuart James - MOF Technologies began life in a lab at the School of Chemistry and Chemical Engineering at Queen’s, and QUBIS was instrumental in bringing the Metal Organic Framework (MOF) technology out of the lab setting and into a global, industrial application.
The MOF market, currently in its infancy, has multiple key application areas including gas storage, carbon capture, vehicular transport and heat transformation, and is forecast to reach in excess of £2.2 billion by 2022.
MOF Technologies, as the world leader in MOF research and production, is gaining greater momentum with continued recognition and support from various commercial sectors. The most significant to date was the release of the world’s first MOF product – TruPickTM – in collaboration with US multinational Decco Worldwide in 2016. These achievements not only increase MOF Technologies' market leadership, but further demonstrate the potential of MOF-based nanotechnology.
Dr Paschal McCloskey, CEO of MOF Technologies, said: “Excelsa Ventures is a perfect fit for a company like us. Its focus has always been on supporting entrepreneurs with a desire to bring disruptive innovation into play for the benefit of industry. That approach has been at the heart of what we have been doing at MOF Technologies since the company’s inception.”
Moritz Bolle from Excelsa Ventures said: “We very quickly recognized the market potential of MOFs in terms of their unmatched ability for gas storage. This technology will revolutionize traditional applications and open countless new opportunities for industry. We are confident MOF Technologies is the company that will lead this seismic shift in materials science.”