Fluoralpha, a subsidiary of INNOVX, created in 2023, has just received a sum of one billion Dirhams from Bank of Africa. Ce financing supports the implementation of a large-scale industrial project of Fluoralpha to Jorf Lasfar, representing a total investment of 2.5 billions of dirhams.

The project includes: a unit for the production of anhydrous hydrofluoric acid (20,000 tons/year); a unit for the production of fluoride of aluminum (28,000 tons/year).

These two strategic inputs, with high added value, are essential to several fast-growing global industrial chains: electric batteries, aluminum, semiconductors and advanced chemistry.

“This financing marks an important step in realization of INNOVX's ambition and the development of its projects. He is also helping to pave the way for other future funding for other businesses under development to support the transition energetic” underlined Youssef BERRADA CFO & VP Support INNOVX.

“This partnership is much more than just financing: it symbolizes the trust placed in our vision,” said Jalil SKALI, CEO of Fluoralpha.

“At Fluoralpha, we transform a co-product of Moroccan phosphate rock in strategic materials essential for industries of the future. Our ambition is clear: to make Morocco a global hub fluorinated products, at the service of the energy and technological transition.

“We are delighted to support Fluoralpha in implementation of this strategic project. This funding illustrates our commitment to supporting innovative and sustainable initiatives that contribute to the industrial development of the Kingdom and to its position as a regional hub. Bank of Africa reaffirms its role as a trusted financial partner for structuring projects that shape the industries of tomorrow and participate in the country's energy and technological transition”, adds Mr. Khalid NASR, Executive Director General of BANK OF AFRICA.

A key player in INNOVX's chemistry portfolio, Fluoralpha releases the potential of fluorine contained in Moroccan phosphate rocks, by converting hexafluorosilicic acid (FSA), into strategic materials at high added value. This approach positions Morocco at the heart of global industrial transitions by developing three critical sectors:

AHF (anhydrous hydrofluoric acid): a pillar of fine chemicals and semiconductors, and essential for LIPF6, Key salt of lithium ion batteries.

Alf3 (aluminum fluoride): essential for the electrolysis of primary aluminum, it strengthens the energy efficiency and competitiveness of this global sector.

Calcium fluoride (CaF₂) synthetic: under development, to secure and diversify the global supply of fluorine beyond limited natural resources.