Capricorn Cleantech Fund announces: FRX Polymers Inc. raises $26.7M Series B financing

On June 6, 2011, the Company announced that it had completed its Series B $15.7MM round, but kept the round open due to significant interest from new investors.  The second close was led by DB Masdar Fund (DBM) and BASF Venture Capital.  Also participating in this second closing were investors from Series A and the first close of Series B, Capricorn Cleantech Fund and Israel Cleantech Ventures (ICV). The funds will be used to partially finance FRX’s first commercial scale production facility, scheduled to come on stream during Q4 2013 in Antwerp, Belgium, as well as to expand its Swiss pilot facility, build out its team, and complete its global product registration process.

Dr. Jos B. Peeters, Managing Partner of Capricorn Venture Partners said, “As a leading European Venture Capital firm with headquarters in Leuven, Belgium, we are delighted to be supporting FRX and especially excited to have played a key role in helping the company locate its first commercial plant in Antwerp, Belgium”.  We have been a major investor in FRX since mid-2009 and we have witnessed, first- hand, the company’s progress.  It bodes well for the chemistry cluster in Antwerp to have attracted this dynamic young company into its fold.”

FRX Polymers Inc. announces that it will build its first commercial plant on Bayer’s Antwerp Site.
Chelmsford, MA, USA: 22 March 2012 - FRX Polymers, Inc. ("FRX" or the "Company") announced today that it has officially signed a long term lease agreement with Bayer Antwerp for 3,000 square meters of land on Bayer's Antwerp site, allowing FRX to build its first commercial plant on the leased property. FRX expects to break ground during August of 2012 and commission the plant during the 4th quarter 2013.

FRX Polymers Inc. raises € 13.5M in debt financing

Chelmsford, MA, USA: 22 March 2012 - FRX Polymers, Inc. ("FRX" or the "Company") announced today that it has raised, through its subsidiary FRX Polymers Europe NV ("FRX NV"), € 13.5 million in debt financing. The credit agreement is between FRX NV and KBC Bank of Belgium. The loan is guaranteed by the Flemish government through Gigarant. FRX will use the funds to construct a new commercial scale production facility in Antwerp, Belgium, projected to come on stream during the Q4 of 2013.

For further reading, please go to http://www.capricorn.be/en/news

Dr Jos B. Peeters

Capricorn Venture Partners nv
Lei 19/1
B-3000 Leuven
Tel : +32 16 28 41 00
Fax : +32 16 28 41 08
e-mail : capricorn@capricorn.be
website : www.capricorn.be