FRX Polymers Secures $22 Million in Series D Equity Financing
FRX Polymers Inc., a global manufacturer of polymeric halogen-free, flame-retardant solutions headquartered in Chelmsford, MA, has secured $22 million in Series D equity financing led by a Beijing-based investment group. Other parties participating in the financing were FRX Polymers’ current shareholders including PMV Tina Fund, Capricorn Venture Partners, FXP Holdings, Evonik Venture Capital, Mubadala Capital, RobecoSam, Israel Cleantech (ICV) Ventures and other stakeholders, including the company’s employees and senior management group.
The financing will be used to fund the company’s growth into China and other parts of the world, according to Marc Lebel, President and CEO of FRX Polymers. China is the fastest-growing region for flame-retardant plastics, according to the company. “We are delighted to have completed our Series D financing and welcome our new strategic partner,” said Lebel. “Their involvement comes at a critical time as the company makes a strong push to expand its market in Asia and especially in mainland China. It is important to us that all of our key investors share the same vision and commitment as we embark on the next phase of our growth plan.”