London-headquartered Nanomox has secured £2.4 million in seed funding, blending equity and grants. The round was led by TSP Ventures and Boast Trading LLC, with participation from Imperial College Enterprise Fund 3, SNØCAP VC, the Circular Innovation Fund, EIT RawMaterials, and several UK angels.
The new investment includes backing from the Innovate UK Investor Partnership programme, enabling Nanomox to scale up production to tonnes per month, enough to begin reliably supplying cosmetic industry partners.
With this investment, the company will establish Catalyst 1, its first commercial pilot plant and R&D facility, setting the stage for large-scale production and accelerated platform development.
Engineering materials with precision
Founded at Imperial in 2020 by Francisco Malaret and Jason Hallett, Nanomox has developed an inventive route to producing high-performance materials while recovering metals such as zinc, manganese, and copper from waste sources and ores.
The company’s origins trace back to discoveries made by Dr. Malaret during his PhD in Imperial’s Department of Chemical Engineering. Supported early by the ChemEng Enterprise initiative, Imperial Enterprise Lab, and Imperial Venture Mentoring, Nanomox benefited from access to top-tier labs and commercial expertise.
At the core of Nanomox’s work is a proprietary process built on ionic liquid chemistry. This method allows the company to create finely tuned metal oxide particles with exceptional control over crystallinity, shape, and size. These are traits critical for performance in UV protection, electronics, and catalytic applications.
The process operates under mild conditions and requires significantly less energy than traditional pathways. This tunability gives Nanomox an edge in industries where material performance standards are rising rapidly. The ability to shape particle morphology with precision means the company can meet demanding use-case requirements from the outset.
Transforms mineral sunscreens
Nanomox’s tailored zinc oxide crystals are poised to redefine mineral-based sunscreens, a fast-growing segment favoured by people avoiding synthetic UV filters and those with sensitive skin. Traditional zinc oxide often leaves an unwanted white cast, limiting its appeal despite strong UV-blocking capabilities.
Nanomox has engineered high-specificity ZnO crystals that maintain effective UV shielding while dramatically improving transparency. Independent lab tests have already confirmed record-level clarity, with further refinements underway. The first commercial product launch is scheduled for Q3 2026, marking an important step toward next-generation mineral sunscreen formulations.
Unlocks circular value from waste
Beyond advanced materials, Nanomox’s ionic liquid process opens the door to recovering valuable metals from industrial by-products, including spent batteries, mining tailings, and steelmaking waste streams. Electric arc furnace dust, rich in zinc yet commonly discarded, is a major target. Nanomox estimates the recoverable zinc in this waste globally could be worth up to $9 billion, highlighting the economic and environmental strength of circular extraction.
After more than two years working within the Imperial Incubator, the team plans to stay closely linked to the ecosystem as it scales Catalyst 1 and advances its materials platform.
“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,” said Nanomox Founder and CEO, Dr Francisco Malaret. “This funding is a major step towards our ambition to deliver a truly sustainable, circular production process for high-value advanced materials.”
Mike Doswell, co-founder at TSP Ventures, said, “We are delighted to continue our investment in Nanomox by co-leading this seed round as the company enters an exciting phase of growth. Nanomox is commercialising advanced materials while advancing the core technology to process industrial residues and legacy waste, which represent an underused resource with major economic and environmental value. Nanomox is entering the market with a scalable, low-carbon platform designed to unlock that value by both producing high-performance materials and recovering critical minerals.”
“At Circular Innovation Fund, we partner with founders who share our vision for a more resource-efficient economy. Nanomox’s approach to recovering zinc from industrial waste demonstrates the kind of scalable, sustainable innovation Europe needs to strengthen its circular value chains,” said Stéphane Villecroze, Co-Founder & Managing Partner, Demea Sustainable Investment, and Andrée-Lise Méthot, Founder & Managing Partner, Cycle Capital.
“It’s important for us because of the collaboration opportunities it offers, and because of the ongoing support we receive from across Imperial,” said Dr Malaret. “We’re actively working with scientists at Imperial, we’ve grown within this ecosystem, and we plan to use our new plant as an R&D hub for years to come.”
