INNOVX, the venture-building arm of Mohammed VI Polytechnic University (UM6P), creates and scales technology companies aimed at advancing Morocco’s industrial and energy-transition agenda. Its newest subsidiary, Fluoralpha, founded in 2023, will convert hexafluorosilicic acid—an abundant by-product of Morocco’s phosphate industry—into high-value fluorine compounds. The planned Jorf Lasfar plant is designed to produce 20,000 tons of anhydrous hydrofluoric acid and 28,000 tons of aluminum fluoride annually, both critical inputs for lithium-ion battery electrolytes and semiconductor etching. INNOVX positions this project as a cornerstone for establishing Morocco as a regional hub for critical raw materials, thereby reducing European dependence on Asian supply chains. The venture intends to diversify into synthetic calcium fluoride in subsequent phases, further limiting reliance on traditionally mined fluorspar. Financially, the company has secured more than MAD 1 billion (over $110 million) in bank financing toward a broader MAD 2.5 billion ($280 million) industrial investment. Executives state that this financing milestone also sets a template for raising additional capital across other INNOVX energy-transition ventures.

Total raised

$110M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2025