FRX polymers secures 20 million USD boost production of Nofia® Green Flame Retardants in Belgium

FRX Polymers, Inc. was founded in 2007 following five years of intensive research and development in the field of inherently flame retardant plastics. The company operates two pilot plants in Chelmsford MA (USA) where it is headquartered, and a full scale plant in Antwerp (Belgium) operated by its subsidiary, FRX Polymers NV. FRX is in the growth phase of its evolution and is commercializing a novel family of non-halogen, transparent, high melt flowing, fire resistant plastics.

FRX is the manufacturer and marketer of a new, environmentally friendly family of inherently flame retardant plastics and oligomers, trade named Nofia®. Currently in the high growth phase of commercializing its unique family of polyphosphonate homopolymers, copolymers, and oligomers, FRX produces plastics that are tough, transparent, and possess high melt flow. FRX’s products are being sold in consumer electronics, building and construction, and transportation markets, as polymeric flame retardant additives, flame retardant engineering plastics, and as reactive flame retardant additives for thermosetting resins.

FRX’s portfolio includes an extensive and growing patent estate. To date, the company has 49 granted patents and 104 patent applications. FRX was the 2008 and 2013 recipient of Frost and Sullivan’s “Innovation of the Year” award for flame retardant materials. FRX was featured on CNN Money in 2012 and in 2013 was named to Global Cleantech’s list of top 100 companies and Going Green’s global top 200 list of companies. In addition, the company won the Flanders Investment of the Year Award in 2013 and the US Environmental Protection Agency’s (EPA) Environmental Merit Award in 2014.

FRX Polymers Inc. announced recently that it has closed its Series C-2 financing for $8 million. The round of financing was led by the Flemish investment company, PMV. Joining PMV are FRX’s current shareholders, Evonik Venture Capital, DB Masdar Cleantech Fund, BASF Venture Capital, and several others. This financing adds to the $12 million Series C-1 financing that the Company completed on December 24, 2013 and brings the total Series C financing to $20MM. The financing coincides with the opening of FRX’s first industrial scale in Antwerp (Belgium). The financial resources will be used to fund the company’s sales ramp-up of its new-to-the-world plant.

Marc Lebel, President and CEO of FRX Polymers stated. “We are delighted to have completed our Series C financing and to welcome PMV to our Company. The benefits of locating our manufacturing plant in Flanders have been further enhanced with the addition of such an important and respected Flemish-based investor to our investor group. The funds raised will be used to benefit our customer’s ramp up in the use of Nofia® products in their formulations. We would also like to thank all of our investors who participated in the company’s Series C for their continued strong commitment and encouragement.”

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