Aug 2, 2023
CHELMSFORD, Mass., August 2, 2023 - FRX Innovations (TSXV:FRXI) (FSE:W2A.F) (OTC QB: FRXIF) (“FRX” or the “Company”), a developer and manufacturer of environmentally sustainable flame-retardant additives, is pleased to announce the appointment of Mr. Patrick Muezers to its Board of Directors.
Mr. Muezers has over twenty years of experience in building and growing specialty chemical companies globally. Most recently, he successfully completed an M&A transaction for Polyscope Polymers B.V. (“Polyscope”), a European specialty plastics company that he founded and grew through to a successful exit.
During his tenure as Managing Director of Polyscope, Mr. Muezers attracted a top-tier senior leadership team and a world-class Board of Directors with deep market expertise. In a short span, Polyscope became a highly profitable enterprise, servicing the plastics industry with customers around the world. He currently also serves on the Advisory Board of Arion, and previously served for seven years on the board of RAI Automotive Group. Mr. Muezers noted, “I am very excited to join the FRX Innovation Board of Directors. The dedication of the FRX team to serve and support its global customer base with the introduction of the highly innovative Nofia® product range, complemented by a state-of-the-art asset, gives me great energy to take part in FRX’s growth as it drives the global change towards halogen- and PFAS-free solutions in polymer systems where the market never expected to be possible.”
As a result of his growing commitments as CEO of Platinum Group Metals, contemporaneously with the appointment of Mr. Patrick Muezers, Mr. Frank Hallam will be transitioning from the FRX Board of Directors, where he served as Director and Chair of the Company’s audit committee. Mr. Hallam noted, “It has been a true pleasure serving as a Director at FRX Innovations. The company has an exciting future ahead and I wish the FRX board and team the best in its growth plans”.
Ross Haghighat, Chairman of FRX Innovations noted, “We are pleased to welcome Patrick to FRX and look forward to benefiting from his decades of experience as a founder, operator, and strategic leader. The momentum created by recently passed legislation is providing the company with several exciting strategic opportunities that Patrick’s experience proves quite relevant to. Haghighat went on to say, “we have been fortunate to have had Mr. Hallam on the FRX board. He made strong contributions to the company, and we wish him well with Platinum Metals Group.”
Marc Lebel, CEO of FRX Innovations added, “I have known Patrick for some years and am excited that he will join our board. His extensive experience in specialty plastics, coupled with his ability to execute large strategic agreements and M&A transactions, is very relevant to FRX, and he’s joining us at exactly the right time. I would also like to thank Mr. Hallam for his excellent contributions and wish him the best.”
FRX is in commercial production at its fully permitted facility in Antwerp, Belgium, where it currently supplies Nofia Flame Retardant Polymers to a growing number of multinational OEMs around the world.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, visit www.frx-innovations.com.
About FRX Innovations (www.frx-innovations.com)
FRX Innovations is a global manufacturing company, producing a family of sustainable flame-retardant products that serve several large markets spanning textiles, electronics, automotive, electric vehicles (EV) and medical devices. FRX is led by a team of highly experienced business and technical professionals and is positioned to be a leader in the rapidly changing flame-retardant plastics and additives market in response to new legislation prohibiting Brominated and Perfluoro flame retardants found in a wide range of electronics and electrical products and restricting the use of melamine flame retardant chemicals found in furniture and mattress foam products.
Nofia® is a registered trademark of FRX. Nofia® products are manufactured at its manufacturing facility on the Port of Antwerp in Belgium, one of the world's largest chemical producing clusters. Nofia Polyphosphonates are produced using sustainable green chemistry principles such as a solvent-free production process, no waste by-products, and near 100% atom efficiency, and are halogen, PFAS and melamine free. FRX's portfolio includes an extensive patent estate. FRX, at the forefront of the ESG movement to a greener future, has been the recipient of numerous awards, including the EPA's Environmental Merit Award, the Belgium Business Award for the Environment, and the Flanders Investment of the Year Award. FRX has also been recognized six times on the Global Cleantech 100 list.
Cautionary Note Regarding Forward-Looking Statements and Reader Advisory
Certain statements contained in this news release, including, but not limited to, statements with respect to the Offering, the completion of the Offering, the size, amount and type of securities issued under the Offering, participation in the Offering by related parties and the amount of such participation, among other things, and statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, may constitute forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding the Company’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward- looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable based on information available to it, but no assurance can be given that these expectations will prove to be correct.
Mark Lotz CFO
Mike Goode CCO
FRX Innovations Investor Relations and Media Inquiries
+41 76 335 4402