Addition of major flame retardants to the European Substance of Very High Concern list drives shift to cleaner world and safer future
Boston, MA – TheNewswire - January 31, 2023 – FRX Innovations (TSXV:FRXI) (FSE:W2A.F) (OTC:FRXIF) (“FRX” or the “Company”), a leader in eco-friendly flame retardant solutions, announces that its Nofia® product line will benefit from the decision by the European Chemicals Agency (ECHA) on January 17th, 2023, to name 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. Being listed as an SVHC Chemical usually catalyzes the industry to quickly remove it from articles, even in advance of a process called Authorization, which is the complete banning of such chemical in uses other than those specifically authorized by the regulator.
One of the
three SVHC chemicals is TBBPA, which is the most-used brominated flame retardant. “This will lead to a rapid phase-out of its use in additional applications not already covered by the EU and US banning brominated flame retardants in electronic display devices such as TV’s and Monitors. The additional applications include textile coatings and many uses of the popular plastic ABS such as in consumer electronics through to larger medical equipment such as MRI machines,” said
Marc Lebel, CEO of FRX Innovations, “and,
in many cases,
our Nofia® flame retardants are the ideal alternative solution”.
Melamine has also been designated an SVHC. “Commonly used as a flame retardant in a range of products, most notably polyurethane foam for mattresses and furniture ” noted Lebel. “Formulations containing melamine can be replaced by Nofia. These are exciting times with many new opportunities arising for FRX. We’re working with over 20 different companies now to replace harmful legacy flame retardants with new, Greener alternatives. We expect our first sales into foam mattresses by this summer.”
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, 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
Mike Goode CCO
FRX Innovations Investor Relations and Media Inquiries