FRX Polymers Inc., a Chelmsford MA-based manufacturer and marketer of an environmentally friendly family of inherently flame retardant plastics and oligomers, closed a $12m Series C financing.
The round was led by Evonik Venture Capital GMBH (Evonik Industries AG), with participation from current investors Capricorn Venture Partners, DB Masdar Cleantech Fund, SAM Private Equity, BASF Venture Capital, Israel Cleantech Ventures, Triton Systems and the company’s founders, its Western Canadian Syndicate and its employees.
The company intends to use the funds to sell its products.
Founded in 2007 and led by Marc Lebel, President and CEO, FRX manufactures an environmentally friendly family of inherently flame retardant plastics and oligomers, trade named Nofia®. The products are being sold in consumer electronic, building and construction, and transportation markets, as polymeric flame retardant additives, flame retardant engineering plastics, and as reactive flame retardant additives for thermosetting resins.
The company operates two pilot plants in Chelmsford MA, a polymer pilot plant in Switzerland and a full scale plant in Antwerp Belgium.
FinSMEs
15/01/2014
Related News
30/03/2012: FRX Polymers Closes $26.7M Series B Financing
07/06/2011: FRX Polymers Closes $15.7M Series B Financing Round