Riyadh - Sharikat Mubasher: Aramco Ventures, the venture capital arm of the Saudi oil and gas giant Aramco, co-led an £8 million Series A round with Mercia Ventures for Promethean Particles, the leading industrial-scale manufacture of metal-organic frameworks (MOFs).

Several existing investors including the Midlands Engine Investment Fund I, the University of Nottingham, TSP Ventures, and the East Midlands Early Growth Fund participated in the round, according to a recent statement.

The Nottingham-based company will use the investment to build an enhanced manufacturing facility, expand its team, and implement more projects that demonstrate the potential of MOFs in energy transition applications

MOFs are a class of materials composed of metal ions interconnected by organic molecules to form a porous, lattice-like structure. Their unique architecture allows them to trap and store gases and liquids efficiently, making them highly effective for applications such as gas storage and separation, carbon capture, and catalysis.

Bruce Niven, Head of Strategic Venturing at Aramco Ventures, said: “Promethean offers new capabilities to scale manufacturing of MOFs cost-effectively, which is a critical ingredient in unlocking the potential for these materials to gain widespread acceptance.”

Meanwhile, James Stephenson, Chief Executive Officer of Promethean, commented: “The closing of our Series A round represents a significant milestone in the Company’s growth journey, and we are delighted to welcome Mercia and Aramco Ventures to the Promethean team. We are extremely grateful for the trust they have placed in us and are excited by their recognition of our business potential and the impact we can have on the world.”

Promethean Particles focuses on utilizing its proprietary continuous-flow manufacturing technology to enable the deployment of MOFs at an industrial scale.