Jan 18, 2023
January 18, Chelmsford, MA: On September 16, 2022, a list of 47 top-tier environmentally conscious international investors, led by Aviva Investors and Storebrand Asset Management and supported by majors including AXA IM, Credit Suisse Asset Management, Macquarie AM, Resona Asset Management, Robeco, and the Swedish National Income Pension System, called on 54 of the world’s largest chemical companies to overhaul their product lines to phase out and ultimately eliminate the use of Forever-Chemicals among other hazardous chemicals, recognizing both the environmental harm and legal risks created by the continued production and sale of these products.
A letter, co-authored by Aviva Investors and Storebrand Asset Management and supported by 47 of the largest institutional investors, including AXA IM, Credit Suisse Asset Management (Switzerland) AG, Resona Asset Management and Robeco
FRX Innovations, Inc. (TSXV:FRXI) (FSE:W2A) (OTC BB: FRXI), answers their call with over a decade of research and development and $125 million dollars of investment to create the Nofia® line of novel Halogen, PFAS- and Melamine- Free, non-leaching flame retardant additives. Nofia®, FRX’s leading product portfolio, offers a direct and sustainable alternative to many PFAS, Bromine and Melamine-based flame-retardant additives used in every-day household items such as TVs, electronics, home appliances, furniture, construction materials, mattresses, and automotive interiors. FRX has been certified by leading organizations including GreenScreen where FRX’s Nofia Polyphosphonates has achieved the coveted “Benchmark 3” accreditation, certified under ChemFORWARD, SAFER® program, TCO-Certification, is on Oeko-Tex 100 list, extensively used for textiles and is listed as an Evaluated Alternative in the ChemSec Marketplace. Major brands worldwide requiring these certifications are propelling the use of Nofia in a growing number of recognized consumer products such as luxury German automobiles, prominent smart televisions, electric vehicle battery casings, lifesaving medical devices, and public seating in an international airport terminal evidencing this moment as an inflection point in the chemical industry impacting FRX’s business, as well as the chemical industry overall.
In a letter to these 47 institutional investors, FRX is proud to offer its partnership to develop and participate in an actionable plan to encourage major chemical companies to phase out toxic chemicals including PFAS, Bromine and Melamine based chemical flame-retardant additives by first and foremost providing a sustainable, non-toxic, non-leaching green alternative. By doing so, major brand owners can offer to consumers, products that are both Fire and Environmentally safe with no compromise between the two. Nofia® products are cost effective, environmentally sustainable, regulatory compliant and form a commercially proven element of an actionable plan to not delay, but rather, quickly phase-out these harmful flame retardants.
Marc Lebel, CEO of FRX stated, “FRX has sent letters to all 47 environmentally conscious international investors informing them of the immediate impact FRX’s Nofia can have in achieving their goal to phase out hazardous chemicals including PFAS and we are encouraged by the feedback received so far. We anxiously await the response of the others and look forward to contributing NOFIA and our expanding relationship with socially active brands for a broad and immediately actionable plan for a safer world and cleaner future.”
To learn more about FRXI, its Nofia solution, and the overall fundamental changes taking place in this industry, please visit the FRXI website and learn how FRX is leading the industry to a safer world and cleaner future.
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. 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