News Release
FRX to benefit from the recent announcement by the European Union to regulate the chemical TPP
FRX Innovations Inc
Boston, MA – TheNewswire - March 25, 2024 – FRX Innovations, Inc. (TSXV:FRXI) (FSE:W2A) (OTC:FRXI) (“FRX” or the “Company”), announces that on February 23rd, the European Union’s Chemical Agency, ECHA, declared the planned addition of Tri Phenyl Phosphate (TPP), a common flame retardant additive, used globally, either directly or as part of other flame retardants in a range of applications including automotive, consumer electronics and printed circuit boards, as a Substance of Very High Concern (SVHC), due to its adverse health profile and specifically for its Endocrine Disruption properties. NOFIA ® family of flame retardants, is already a proven alternative for TPP-containing flame retardants in several end applications, with first commercial adoption by the company’s European partner, Polymer Compounders, Ltd. under NOTOXICOM ® brand. This is a very significant announcement: “When chemicals are announced as candidates for classification as SVHC, it usually means that companies will move away from their use in any sensitive application with a risk of human or environmental exposure” said FRX Innovations President and CEO, Marc Lebel, he added that “TPP is found in several high volume flame retardants that will now likely have to be modified to reduce the TPP level below what we expect to be 0.1% or, could even be discontinued by those suppliers not able to achieve this level. For those able to achieve this low level, it will likely mean a significant increase in the cost of manufacturing. Should FRX achieve just a ten (10%) percent market penetration, the annual NOFIA ® demand in this market would reach $100 million.” “Endocrine Disrupting chemicals are chemicals that may mimic, block, or interfere with the body’s hormones…. These chemicals are associated with a wide array of health issues”, according to the US National Institute of Environmental Health Sciences. FRX is already very well placed: This news follows recent announcements of regulations limiting the use of halogenated flame retardants and also PFAS, Forever Chemicals, in flame retardant products. FRX has already announced how its Nofia Flame Retardants can replace halogenated flame retardants, and PFAS chemicals in many large volume applications. Nofia flame retardants can also replace the largest TPP-containing flame retardant, known as BPADP, it its uses in the enclosures of household electronics, battery housings, and many other uses. Notoxicom by Polymer Compounders Ltd: The first commercial use of a Nofia flame retardant to replace BPADP was launched by the UK based compounder Polymer Compounders. PCL Commercial Development Manager, Rupert Barrett, said “Not only is this news incredibly encouraging for all those associated with FRX and PCL, but also the general public and community. As we have become more aware of the detrimental harm TPP can inflict upon both humans and the environment, our passion and determination to spread the health and sustainable credentials Notoxicom® encompasses has been at the forefront of our business.” “As momentum gathers, we will continue to work in tandem with FRX to ensure we maximize our resource and persist with the task in hand.” 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 (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 has been at the forefront of the ESG movement to a greener future. The company 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. About Polymer Compounders LTD (www.polymer-compounders.com) Since their founding in 1993, Polymer Compounders have progressively increased their product range to include ABS, Polycarbonate, PC/ABS alloys, ASA, and other engineering thermoplastics. Based in Durham, UK, Polymer Compounders are largely regarded as leaders in their sector, specializing in rapid color matching, outstanding technical support, first-class product quality, flexible order quantities and super-fast deliveries. Notoxicom® is a registered trademark of Polymer Compounders Limited, with Notoxicom® products being manufactured at their plant in Durham, UK. 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. Contact Information: Polymer Compounders Ltd Rupert Barrett +44 7485 314095 r.barrett@polymer-compounders.co.uk Polymer Compounders Ltd Media Inquiries James Houlder +44 7570936924 j.houlder@polymer-compounders.co.uk FRX Innovations Mark Lotz CFO +1 604-880-6546 mlotz@frxpolymers.com Mike Goode CCO +1 765-838-9018 mgoode@frxpolymers.com FRX Innovations Investor Relations and Media Inquiries Investor Relations Carl Desjardins +1 514-818-0447 Jean-Francois Meilleur +1 514-951-2730 Erik Danielson +41 76 335 4402 Diane Wilson +1 978-505-1275 ir@frx-innovations.com Media Inquiries Joseph Grande +1 413-684-2463 joe@jgrandecommunications.com #PFAS, #PFASfree, #ESG, #ForeverChemical, #SustainableFR, #TPP, #Triphenyl phosphate
March 25, 2024 08:26 AM Eastern Daylight Time
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