Israel Cleantech Ventures and Capricorn Venture Partners Co-lead a $6 million Series
Tel Aviv, Israel / Leuven, Belgium - 29 July 2009: Israel Cleantech Ventures (ICV) and Capricorn Venture Partners (CVP) announced today that they have invested $6 million in FRX Polymers, Inc, (FRX) the manufacturer of a new, environmentally friendly family of inherently flame retardant plastics. FRX's products are finding markets as polymeric flame retardant additives and as 'standalone' inherently flame retardant engineering plastics. FRX Polymers is currently in the commercialization stage for its unique family of polyphosphonate
homopolymers and copolymers. These plastics are tough, transparent, possess high melt flow, and are inherently flame retardant. Due to FRX Polymer's high molecular weight, they do not migrate out of the host plastic when used as flame retardant additives. They also typically improve melt flow
and/or mechanical properties - as well as deliver excellent flame retardant properties. FRX polymers are environmentally friendly since they do not contain halogens, whereas many other flame retardant additives contain halogen.
FRX's portfolio is covered by an extensive and growing patent estate. FRX was the 2008 recipient of Frost and Sullivan's 'Innovation of the Year' award for flame retardant materials and received the first-place award in the Clean Technology Business Forum, a competition sponsored by Battelle at the recent Global Plastics Environmental Conference in Orlando, FL. FRX is also featured in The Economic
Report airing on CNN and Fox Business News this year. FRX has over 20 partnership agreements in place with some of the largest plastics manufacturers in the world.
'FRX represents an extremely compelling investment opportunity for us,' stated Jack Levy, Partner at ICV. 'There is a clear global market demand for the company's green flame retardant plastics and we believe that FRX's products will play an important role in redefining a significant part of the $15 billion Flame Retardant Plastics industry.'
Claude Stoufs, Senior Investment Manager for Capricorn Venture Partners said, 'FRX Polymers has developed a novel and very exciting product line to address the global need for non-halogen
containing flame retardant plastics. As a consequence of the many excellent partnerships that FRX has established, we believe that the company is poised for accelerated growth.'
'We are delighted to welcome both ICV and Capricorn to our board and current group of committed shareholders' declared Marc Lebel, President and CEO of FRX Polymers. 'Both venture partners bring considerable business experience to our company. In addition, they have considerable access to global
markets, which will serve us well as we embark on the next phase of our growth plan.'
About Israel Cleantech Ventures
Established in 2006, Israel Cleantech Ventures (ICV) is the first venture capital fund based in Israel
dedicated to providing value added growth capital to exceptional entrepreneurs building renewable energy, water and environmental technologies. The fund has $75 million under management and to
date has completed eleven investments across diverse cleantech sectors, including water, solar, biogas, energy storage, energy efficiency, transportation and green materials. For more information visit their website at www.israelcleantech.com.
About Capricorn Venture Partners
Capricorn Venture Partners is a pan-European manager of venture capital funds seeking to invest in technology-based growth companies. The Capricorn Cleantech Fund is Capricorn's third consecutive venture capital fund. The fund has ? 112 million to invest in mainly European growth companies developing innovative breakthrough technologies in the fields of renewable energy and energy efficiency, water purification and re-use, bio-based material conversion and bio-refinery platforms,
clean air, climate change, green chemistry and advanced materials, materials recovery and recycling.
The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. The Capricorn Cleantech Fund benefits from
investment by the European Investment Fund through the 'Competitiveness and Innovation Framework Programme' of the European Union. For more information visit their website at
www.capricorn.be.
About FRX Polymers
FRX Polymers, Inc. was founded in 2007 following over five years of intensive research and development in the field of inherently flame retardant plastics. The company's mission is to
commercialize a novel family of non-halogen, transparent, high melt flowing, fire resistant plastics.
FRX Polymers is headquartered in Chelmsford MA, where it operates both polymer and monomer pilot facilities. FRX is also currently building a semi-works plant in Switzerland. For more information about its products, visit their website at www.frxpolymers.com.
For further details, please contact:
Capricorn Venture Partners:
Dr Jos B. Peeters, Managing Partner, +32 16 28 41 00, jos@capricorn.be
FRX Polymers:
Diane Wilson, +1 978 244 9500, dwilson@frxpolymers.com
homopolymers and copolymers. These plastics are tough, transparent, possess high melt flow, and are inherently flame retardant. Due to FRX Polymer's high molecular weight, they do not migrate out of the host plastic when used as flame retardant additives. They also typically improve melt flow
and/or mechanical properties - as well as deliver excellent flame retardant properties. FRX polymers are environmentally friendly since they do not contain halogens, whereas many other flame retardant additives contain halogen.
FRX's portfolio is covered by an extensive and growing patent estate. FRX was the 2008 recipient of Frost and Sullivan's 'Innovation of the Year' award for flame retardant materials and received the first-place award in the Clean Technology Business Forum, a competition sponsored by Battelle at the recent Global Plastics Environmental Conference in Orlando, FL. FRX is also featured in The Economic
Report airing on CNN and Fox Business News this year. FRX has over 20 partnership agreements in place with some of the largest plastics manufacturers in the world.
'FRX represents an extremely compelling investment opportunity for us,' stated Jack Levy, Partner at ICV. 'There is a clear global market demand for the company's green flame retardant plastics and we believe that FRX's products will play an important role in redefining a significant part of the $15 billion Flame Retardant Plastics industry.'
Claude Stoufs, Senior Investment Manager for Capricorn Venture Partners said, 'FRX Polymers has developed a novel and very exciting product line to address the global need for non-halogen
containing flame retardant plastics. As a consequence of the many excellent partnerships that FRX has established, we believe that the company is poised for accelerated growth.'
'We are delighted to welcome both ICV and Capricorn to our board and current group of committed shareholders' declared Marc Lebel, President and CEO of FRX Polymers. 'Both venture partners bring considerable business experience to our company. In addition, they have considerable access to global
markets, which will serve us well as we embark on the next phase of our growth plan.'
About Israel Cleantech Ventures
Established in 2006, Israel Cleantech Ventures (ICV) is the first venture capital fund based in Israel
dedicated to providing value added growth capital to exceptional entrepreneurs building renewable energy, water and environmental technologies. The fund has $75 million under management and to
date has completed eleven investments across diverse cleantech sectors, including water, solar, biogas, energy storage, energy efficiency, transportation and green materials. For more information visit their website at www.israelcleantech.com.
About Capricorn Venture Partners
Capricorn Venture Partners is a pan-European manager of venture capital funds seeking to invest in technology-based growth companies. The Capricorn Cleantech Fund is Capricorn's third consecutive venture capital fund. The fund has ? 112 million to invest in mainly European growth companies developing innovative breakthrough technologies in the fields of renewable energy and energy efficiency, water purification and re-use, bio-based material conversion and bio-refinery platforms,
clean air, climate change, green chemistry and advanced materials, materials recovery and recycling.
The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. The Capricorn Cleantech Fund benefits from
investment by the European Investment Fund through the 'Competitiveness and Innovation Framework Programme' of the European Union. For more information visit their website at
www.capricorn.be.
About FRX Polymers
FRX Polymers, Inc. was founded in 2007 following over five years of intensive research and development in the field of inherently flame retardant plastics. The company's mission is to
commercialize a novel family of non-halogen, transparent, high melt flowing, fire resistant plastics.
FRX Polymers is headquartered in Chelmsford MA, where it operates both polymer and monomer pilot facilities. FRX is also currently building a semi-works plant in Switzerland. For more information about its products, visit their website at www.frxpolymers.com.
For further details, please contact:
Capricorn Venture Partners:
Dr Jos B. Peeters, Managing Partner, +32 16 28 41 00, jos@capricorn.be
FRX Polymers:
Diane Wilson, +1 978 244 9500, dwilson@frxpolymers.com
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