FRX Polymers Inc., a Chelmsford, Mass.-based company that commercializes a novel family of non-halogen, transparent, high melt flowing, fire resistant plastics, has closed its $26.7m Series B financing.
In June, 2011, the company had completed its $15.7m Series B funding, but kept the round open.
The second close was led by DB Masdar Fund and BASF Venture Capital, with participation from Capricorn Cleantech Fund and Israel Cleantech Ventures.
FRX intends to use the capital to finance its first commercial scale production facility, scheduled to come on stream during in the second quarter of 2013 in Antwerp, Belgium, as well as to expand its Swiss pilot facility, build out its team, and complete its global product registration process.
Founded in 2007 and led by President and CEO Marc Lebel, the company manufactures and markets a new, environmentally friendly family of inherently flame retardant plastic. Its 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.
FinSMEs
30/03/2012