Key Facts and Figures
The Clear Choice for Flame Retardancy Summary FRX Polymers Inc (“FRX”) is a growth stage specialty polymer company that has developed a novel family of polymeric non-halogen, inherently flame retardant additives marketed under the trade name “nofia®”. Its polymers are highly flame retardant, non-migrating, transparent, tough, melt processable and cost effective. The Company offers an attractive alternative to the environmental issues surrounding the halogenated Bromine-based fire retardant additives which are increasingly being banned world-wide which has lead to voluntarily bans by key end use customers in the consumer electronics marketplace. Since the company’s formation in 2007, it has developed a formidable patent estate, has been operating a semi-works plant in Switzerland which is used to seed the market and has consequently established a strong sales pipeline. Bolstered by an experienced management, a strong investor base, key strategic partners, and support from the Flemish government, FRX is poised for substantial revenue growth over the next several years. The spring board for this growth is the completion of a commercial scale specialty polymer plant in the Port of Antwerp which came on stream in December 2013. The new plant, when fully sold out will generate EBITDA of about $25MM with revenues of $62MM. FRX has raised approximately $82 million in capital in the form of equity, debt supported by government guarantees and government grants, including a most recent series C raise of $20MM to provide the working capital for rapid commercialization and revenue growth.
Key Facts and Figures Established
Development work began in 2003, Company formed in early 2006 and later Incorporated in Delaware in 2008
Locations
Headquarters: Chelmsford, Ma USA, Semi-works Plant: Domat-Ems, Switzerland, Commercial Plant: Antwerp, Belgium
Business
Flame Retardant Plastics and Additives
Products
Product line of Homopolymer, Copolymers and Oligomers: Nofia lines: HM 1100, CO3000, CO6000, OL1001, OL3000, OL3001, & OL5000
Target Markets
$15 billion flame retardant plastics industry growing at 5 – 7% annually targeting
Awards
Environmental Protection Agency (EPA) Environmental Merit Award - 2014
1) Electrical equipment and consumer electronics 2) Building and construction and 3) Mass Transportation
Flanders Investment of the Year Award – April 2013 CleanTech Top 100 Private Companies – March 2013 Going Green Top 200 Private Companies – March 2013 Frost and Sullivan – Flame Retardant Innovation of the Year Award – 2008 & 2013 Intellectual Property
Extensive Patent Portfolio with 50 Granted Patents with all claims allowed, 107 applications covering 25 subject matters
Employees
USA: 20, Antwerp: 20
Management
Marc Lebel, Founding CEO – Chemical Engineer with 30 years executive experience - Triton Systems, Aspen
Financial Support
Aerogels, Cabot Corp, DSM Thermoplastic Elastomers , Polysar Christopher Joyce, CFO – MBA with 28 years experience - Elemé Medical, Percardia Corp and XTRA Corp Kevin Trudel, VP Sales – Chemical Engineer with 25 years at Albemarle (world’s largest FR company) Dr. Jan-Pleun Lens, VP R&D – PhD, Chemical Engineer – 12 years experience GE Plastics/SABIC Innovative Plastics Chris Blubaugh, VP Manufacturing –Chemical Engineer – 25 years experience GE Plastics/SABIC Innovative Dr. Frank Nuyttens, Plant Manager Antwerp PhD Chemistry – 16 years EOC Surfactants, Filmex Vitalo, Brenntag Equity: Evonik Ventures, PMV Venture Capital, Capricorn Ventures, Israel Cleantech Ventures, DB Masdar Clean Tech, Robeco-SAM, BASF Ventures, Triton Systems, Huifeng Agricultural Chemical Co, CrossLinking Chemicals, Shima Trading Co, Brightfield Chemicals, High Net Worth Investors, Management Debt: KBC Bank Udhe Inventa Fischer, Bayer Corporation Other: Strategic Investments Grant, Debt guarantee and Favorable Tax Ruling from Flemish Government
August 10, 2013
Key Facts and Figures Established
Development work began in 2003, Company formed in early 2006 and later Incorporated in Delaware in 2008
Locations
Headquarters: Chelmsford, Ma USA, Semi-works Plant: Domat-Ems, Switzerland, Commercial Plant: Antwerp, Belgium
Business
Flame Retardant Plastics and Additives
Products
Product line of Homopolymer, Copolymers and Oligomers: Nofia lines: HM 1100, CO3000, CO6000, OL1001, OL3000, OL3001, & OL5000
Target Markets
$15 billion flame retardant plastics industry growing at 5 – 7% annually targeting
Awards
Environmental Protection Agency (EPA) Environmental Merit Award - 2014
1) Electrical equipment and consumer electronics 2) Building and construction and 3) Mass Transportation
Flanders Investment of the Year Award – April 2013 CleanTech Top 100 Private Companies – March 2013 Going Green Top 200 Private Companies – March 2013 Frost and Sullivan – Flame Retardant Innovation of the Year Award – 2008 & 2013 Intellectual Property
Extensive Patent Portfolio with 50 Granted Patents with all claims allowed, 107 applications covering 25 subject matters
Employees
USA: 20, Antwerp: 20
Management
Marc Lebel, Founding CEO – Chemical Engineer with 30 years executive experience - Triton Systems, Aspen
Financial Support
Aerogels, Cabot Corp, DSM Thermoplastic Elastomers , Polysar Christopher Joyce, CFO – MBA with 28 years experience - Elemé Medical, Percardia Corp and XTRA Corp Kevin Trudel, VP Sales – Chemical Engineer with 25 years at Albemarle (world’s largest FR company) Dr. Jan-Pleun Lens, VP R&D – PhD, Chemical Engineer – 12 years experience GE Plastics/SABIC Innovative Plastics Chris Blubaugh, VP Manufacturing –Chemical Engineer – 25 years experience GE Plastics/SABIC Innovative Dr. Frank Nuyttens, Plant Manager Antwerp PhD Chemistry – 16 years EOC Surfactants, Filmex Vitalo, Brenntag Equity: Evonik Ventures, PMV Venture Capital, Capricorn Ventures, Israel Cleantech Ventures, DB Masdar Clean Tech, Robeco-SAM, BASF Ventures, Triton Systems, Huifeng Agricultural Chemical Co, CrossLinking Chemicals, Shima Trading Co, Brightfield Chemicals, High Net Worth Investors, Management Debt: KBC Bank Udhe Inventa Fischer, Bayer Corporation Other: Strategic Investments Grant, Debt guarantee and Favorable Tax Ruling from Flemish Government
August 10, 2013
