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FRX Polymers Inc. said it has received a $6 million investment from two foreign investors to develop environmentally friendly flame retardant plastics.
The two-year old Chelmsford company is developing plastic polymers that are tough and have high melting points that can be used as flame retardant additives. FRX officials said these materials do not include halogens like traditional flame retardants, making them safer for the environment. The materials can also be used as stand-alone plastics.
FRX received the funding from Israel Cleantech Ventures based in Tel Aviv and Capricorn Venture Partners of Leuven, Belgium.
In February, FRX reported it signed an agreement with Uhde Inventa-Fischer (UIF) to build a pilot manufacturing facility at the German industrial engineering company’s facility in Switzerland.
The agreement will allow FRX Polymers to quickly achieve commercial scale for its new line of polyphosphonate homopolymers and copolymers, which it has been making on a limited scale in its Chelmsford facility. By 2010, the company expects to be capable of producing 500 tons of the material per year at the new plant.
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