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
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busin...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...