FRX Innovations' Nofia® Adopted by a Leading German Luxury Automotive Brand Commercial Shipments to Commence Next Quarter
Boston, MA
|
August 02, 2022 07:00 AM Eastern Daylight Time
FRX Innovations (TSXV:FRXI) (“FRX,” or the “Company”), is pleased to announce that the Company has begun shipment of its flagship Nofia® product for use in the passenger cabin of a leading Germany luxury automotive manufacturer. This commercial launch expands use of Nofia® to a second production model and deepens the relationship with a strategic supplier to a luxury European car manufacturer for the Chinese market.
This commercial launch follows an extensive development and approval process, where Nofia® is formulated and converted into polyurethane foams by FRX partner, Xianzhong, a leading Chinese polyurethane foam manufacturer.
Sustainable and permanent flame retardants for automotive interiors, is a rapidly growing segment of the market and a result of the ESG global movement away from legacy toxic flame retardants to more sustainable and permanent solutions, such as Nofia®, pioneered by FRX. Nofia® delivers a unique set of properties which includes flame retardancy, plus meeting very stringent odor and fogging requirements. The Company views this as validation of its technology and further demonstrates FRX’s position as a leader in the rapidly growing non-toxic, non-leaching fire retardant industry.
“We are excited about the expansion of Nofia® in the luxury automotive market and the strengthening of our relationship with Xianzhong. FRX can deliver the right solution to the market at globally competitive prices while maintaining the high performance that luxury auto manufacturers demand. Nofia® continues to make inroads across the global automobile market as the transition from legacy toxic flame retardants to non-toxic solutions accelerates,” stated Marc Lebel, Chief Executive Officer of FRX Innovations.
FRX is a commercial producer of non-toxic, non-leaching Nofia® flame retardant additives with applications in a wide range of consumer applications. Many traditional flame retardant solutions are known to be highly toxic and pose a high level of health risks to people and animals overtime. As new regulations require OEMs to move away from toxic chemicals, FRX Nofia® is positioned to lead with first mover advantage across multiple markets.
For more information, please visit www.frx-innovations.com .
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 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 growing flame retardant plastics and additives market.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 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 STATEMENTS REGARDING FORWARD-LOOKING INFORMATION
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward looking terminology such as "plans", "expects" or "does not expect", "expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, statements with respect to the safety and/or efficacy of Nofia® flame retardants, the positioning of the Company within the industry, the expected shift in consumer demand benefitting the Company, the timing of commercial production targets, and the expected growth within automotive interior markets for sustainable and permanent flame retardants. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Contact Details
FRX Innovation
Mike Goode
+1 978-244-9500
Investor Relations
Graham Farrell
+1 416-842-9003
Graham.Farrell@harbor-access.com
Media Relations
Joseph Grande
+1 413-684-2463
