Welcome!

News Feed Item

FRX Polymers Inc. Completes $20MM Series C Financing

FRX Polymers Inc. (“FRX” or the “Company”) announced today 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 Green flame retardant polymer plant in Antwerp Belgium. The financial resources will be used to fund the company’s sales ramp of its new-to-the-world plant.

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.

Roald Borré, Co-Head of Venture Capital & Manager PMV-TINA stated, “We are thrilled to have the opportunity to invest in FRX. We join a strong investor group supporting this emerging growth company with its innovative and environmentally friendly products and its new manufacturing plant in the Port of Antwerp. We are impressed with the progress that FRX has made to date and believe that the Company is poised for significant growth in the field of flame retardant plastics.”

Dr. Jos Peeters, Managing Partner of Capricorn Venture Partner and FRX’s largest shareholder stated: “We are very pleased to have such a respected and value added investor from Flanders joining and helping to support our very exciting company.

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.”

About FRX Polymers

FRX Polymers, Inc. was founded in 2007 following over five years of intensive research and development in the field of inherently flame retardant plastics. The company operates two pilot plants in Chelmsford MA, and through its subsidiary, FRX Polymers (Europe) NV a full scale plant in Antwerp Belgium. 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 Polymers is headquartered in Chelmsford MA. For more information about its products, visit their website at www.frxpolymers.com.

About PMV

PMV NV is an independent investment company. It invests in the economic fabric of Flanders. In so doing, the company acts as entrepreneur and market producer. It also provides financial levers if the market needs support and the necessary private initiatives are not forthcoming. PMV collaborates with private partners via funds and public-private partnerships. Particular emphasis is placed on sustainable energy, biotech, cleantech, life sciences and infrastructure for the future. PMV manages a portfolio of EUR 900 million in assets. PMV also undertakes commissions on behalf of the Flemish Region. For more information visit their website at www.pmv.eu.

About Evonik Venture Capital

Evonik Venture Capital, the venture capital group of Evonik Industries AG plans to invest a total of €100 million in highly promising start-ups with break-through technologies and leading specialist venture capital funds. These investments will focus on Europe, the U.S. and Asia. Partnering with innovative start-up companies supplements Evonik’s approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields. For more information visit their website at www.evonik.com/venturing.

About Capricorn Venture Partners

Capricorn Venture Partners is a pan-European manager of venture capital funds seeking to invest in technology-based growth companies. Capricorn is investing out of its Capricorn Cleantech Fund, it’s Capricorn Health-tech Fund and is managing Quest for Growth, a cross-over fund quoted on EuroNext Brussels and advising the Luxembourg based Quest Cleantech Sicav. The Capricorn Cleantech Fund invests in European growth companies developing innovative breakthrough technologies in the fields of renewable energy and energy efficiency, water purification and re-use, bio-based material conversion and bio-refinery platforms, clean air, climate change, green chemistry and advanced materials, materials recovery and recycling. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. The Capricorn Cleantech Fund benefits from an investment by the European Investment Fund through the "Competitiveness and Innovation Framework Program" of the European Union. For more information visit their website at www.capricorn.be.

About DB Masdar Clean Tech Fund, L.P.

DB Masdar Clean Tech Fund, L.P. is co-managed by Masdar Capital, the private equity and venture capital arm of the Abu Dhabi based Masdar Initiative, and DB Climate Change Advisors, a unit of Deutsche Bank’s Asset Management division. The DB Masdar Clean Tech Fund seeks to build a diversified private equity portfolio that includes some of the world's most promising and pioneering clean tech and renewable energy companies. For more information, please visit www.masdar.ae and www.db.com.

About Israel Cleantech Ventures

Established in 2006, Israel Cleantech Ventures (ICV) is the largest venture capital firm dedicated to providing value added growth capital to exceptional entrepreneurs building Israel's leading energy, water and environmental companies. The firm has over $130M under management to date in two funds and has completed 17 investments across diverse cleantech sectors, including clean materials, waste water treatment, alternative energy generation, energy storage & efficiency, green building, smart grid and in technologies that enable existing industries to work in a more efficient and environmentally friendly manner. ICV funds are backed by leading institutional investors and notable family offices in Europe, the US and Israel. For more information please visit www.israelcleantech.com.

About RobecoSam Private Equity

RobecoSAM is an investment specialist focused exclusively on Sustainability Investing. Its offerings comprise asset management, indices, private equity, engagement, impact analysis and sustainability assessments as well as benchmarking services. Together with S&P Dow Jones Indices, RobecoSAM publishes the globally recognized Dow Jones Sustainability Indices (DJSI). RobecoSAM was founded in 1995 out of the conviction that a commitment to corporate sustainability enhances a company’s capacity to prosper, ultimately creating competitive advantages and stakeholder value. Headquartered in Zurich, RobecoSAM employs over 100 professionals. As of June 30, 2013, RobecoSAM’s assets under management, advice and license amounted to a total of USD 8.8 billion. For more information, please visit www.robecosam.com.

About BASF Venture Capital

BASF Venture Capital is the corporate venture capital company of BASF Group. BASF invests globally in promising start-up companies and funds. BASF’s investments focus on innovative technologies with a high growth potential where chemistry plays an important role, as well as new materials and substances with significant market opportunities. BASF Venture Capital's team is set-apart by a unique combination of technical, scientific and financial expertise. BASF’s portfolio includes exceptional start-up companies, who enrich the marketplace with innovative materials, methods or products. For more information, please visit www.basf-vc.de.

About Triton Systems

Triton Systems, Inc. (Triton) is an advanced materials, coatings and systems engineering product development firm headquartered near Boston, Massachusetts. Triton selectively combines US Government funds with private equity investments to transition ideas to the marketplace. Founded in 1992, Triton, along with its affiliates, has two locations in Massachusetts, a R&D and manufacturing facility in Fargo, North Dakota, and a life science group in Berkeley, California. For more information please visit www.tritonsystems.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...