BASF Invests $2.7 Million in FRX Polymers
BASF Venture Capital has invested $2.7 million in the advanced materials company FRX Polymers. The investment is part of a series B financing round of $26.7 million.
FRX Polymers develops and produces innovative, non-halogen flame-retardant polymers.
FRX Polymers is currently operating three pilot plants: two in Chelmsford, Massachusetts, and another, larger facility in Switzerland. "The demand for our outstandingly environment-friendly products is increasing sharply," said Marc Lebel, Chief Executive Officer of FRX Polymers. "We will therefore be using the funds from the financing round to further expand our new production plant in Antwerp and our sales operations."
"The polymeric flame retardants of FRX Polymers have unique properties," explained Dr. Oliver Guthmann, Investment Manager at BASF Venture Capital. They consist of organic polymers with phosphorus as the active component. "Because of their polymeric structure, the flame retardants do not migrate out over time and also do not change the optical and mechanical properties of the plastic in which they are incorporated," added Guthmann. Moreover, they can also be used as plastic themselves. This makes it possible to manufacture thin transparent high heat products, such as electronic sheet and LED light diffusers. A further advantage is that the flame retardants from FRX Polymers are halogen-free and thus particularly sustainable.
The flame retardants are already used in numerous products in the plastic processing industry - for example computer or monitor housings.
