Jan 31, 2023
BOSTON, MA, January 31, 2023 - FRX Innovations Inc. (TSXV:FRXI.V) (FSE:W2A.F) (OTC:FRXIF) (“FRX,” or the) “Company”) a leader in eco-friendly flame retardant solutions, is excited to announce that it will begin trading on the OTC QB effective January 31, 2023.
“This is an important milestone for FRX Innovations as it will increase our reach to American investors interested in companies whose mission is to make the world safer and our future cleaner.” FRX serves this mission by offering major chemical companies and brand owners, a green, proven, viable and cost competitive alternative, to recently banned, or restricted, flame retardants used in everyday products such as televisions, home appliances, medical devices, foam mattresses, electric vehicles, lithium-ion battery casings, textiles, etc.” noted Marc Lebel CEO of FRX Innovations. “Already trading on the TSX and Frankfurt exchanges, extending our reach into the US market via the OTC QB is another important step to position FRX in key capital markets”. Lebel continued.
In 2022, the European Union and US state governments announced banning brominated flame retardants from being used in televisions, monitors and other electronic display applications. Later in the year, the UK enacted regulation classifying furniture flame-retarded with brominated compounds as chemical waste not eligible for landfills, and instead must be incinerated. The year then closed with the announcement by 3M, that it would shut down its forever chemical business known as PFAS. Within the PFAS family of chemicals is a widely used flame retarded used in Polycarbonate sheet and film. Then on January 17, the European Chemicals Agency (ECHA) named three common flame retardants as Substances of Very High Concern (SVHC). This designation brings stringent disclosure and notification requirements. Specifically, if a product contains more than 0.1% of a newly classified SVHC Chemical, customers must be notified within six months of such classification. Amongst the flame retardants named is a high-volume flame retardant known as TBBPA that is widely used in many types of electronic devices including medical devices, and melamine, which is used to flame retard foam mattresses and furniture. Lebel added, “All of this new legislation creates the conditions for a very large shift away from these toxic flame retardants over the next 12 to 36 months, which FRX estimates to represent a USD$ 1.5B opportunity for green alternatives such as FRX’s Nofia®”
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.
About FRX Innovations
FRX Innovations is a global manufacturing company, producing a family of environmentally 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 retardant chemicals.
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 both halogen and PFAS 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.
Mark Lotz CFO
FRX Innovations Investor Relations and Media Inquiries