The London-based biomaterials startup secured $15m from investors including Alter Equity and JamJar Investments to expand its manufacturing network in the United States and Europe.
"Shellworks represents exactly the kind of innovation we need to see in the materials economy. They’re not just creating a better material, they’re building the infrastructure to make it accessible at scale. That’s what will drive real change and contribute to the plastic-free economy we are supporting at alter equity."
The funding round includes participation from JamJar Investments, Cur8 Capital, Energy Mix Ventures, Project Ventures, and angel investor Vlad Yatsenko.
"Having the backing of some of the UK’s most respected investors, including JamJar and a founder of one of Britain’s most successful tech companies, is a powerful validation of our team, our mission, and the product we’ve built. We’re not just optimising energy; we’re creating a more intelligent, sustainable and user-centred way of living."
The funding round was co-led by TSP Ventures and Boast Trading to help establish the company's first commercial pilot plant.
"Our unique ionic liquid platform can create nanoparticles tuned for high performance in high-value applications. With the same platform, we can recover valuable raw materials from waste sources and mineral ores,"
— Francisco Malaret, Co-Founder and Chief Executive Officer
The oversubscribed round included participation from Hitachi Ventures, Voyager Ventures, and Schroders Capital, alongside existing investors.
"Energy underpins every industry in the world, and yet no one has succeeded in course-correcting the fundamentally flawed way the markets work. For decades, the industry has tried to patch over the costly inefficiency of energy transactions with new utility brands and new promises. The real opportunity in energy looks a lot like what fintech did to banking: rebuild the core infrastructure, then let innovation explode on top of it."
The seed round was led by Extantia with backing from the NATO Innovation Fund, Promus Ventures, and Fund F.
"This investment is a clear signal that Europe intends to lead in sustainable advanced-materials manufacturing. Our technology turns what is currently burned, buried or exported into a reliable, high-quality feedstock stream, strengthening supply chains for primes, OEMs, and government customers. With Extantia and the NATO Innovation Fund behind us, we’re now positioned to scale with urgency."
