FRX Polymers, Inc., a Chelmsford, MA-based manufacturer and marketer of an environmentally friendly family of inherently flame retardant plastics, has closed a $15.7m Series B financing round.
The round was led by SAM Private Equity, with participation from existing investors Israel Cleantech Ventures and Capricorn Venture Partners, a syndicate of private backers from Western Canada, North Sky Capital, FRX’s founders (including Triton Systems, Inc.) and employees.
The company intends to use the funds for working capital and to advance the construction of its first commercial scale production facility. FRX is marketing a novel family of non-halogen, transparent, high melt flowing, fire resistant plastics, which are currently being sold in consumer electronic, building and construction and transportation markets.
Founded in 2007, and led by President and CEO Marc Lebel, FRX Polymers operates two pilot plants in Chelmsford, MA, and a polymer pilot plant in Switzerland.