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EQS-News: FRX Innovations Inc FRX Innovations’ Nofia® Selected by Major European Airport to Provide Fire Protection in Furniture 27.09.2022 / 15:19 CET/CEST The issuer is solely responsible for the content of this announcement.
FRX Innovations (TSXV:FRXI) (OTC:FRXIF) (FSE:W2A) (“FRX,” or the “Company”), a leader in eco-friendly flame retardant solutions, is pleased to announce that its Nofia® flame retardant has been chosen to provide active fire protection in the polyester textile fabric used in the recently completed refurbishment of airport seating at a major European airport. The Nofia® flame retardant was converted into inherently flame-retardant polyester fiber by one of the world’s leading polyester producers. Nofia® flame retardants are suitable for use in the regular production of polyester, or for use in post-consumer recycled polyester, an increasingly important advantage for manufacturers.
In a letter to waste handling companies in August 2022, the UK Environment Agency announced that furniture containing certain brominated flame retardants, designated as Persistent Organic Pollutants, need to be disposed in specialized incineration facilities effective January 1, 2023. Furthermore, as there is no simple way to distinguish between different brominated flame retardants, this will mean a very large quantity of commercial and consumer furniture requires this type of disposal, and the waste industry is already saying sufficient capacity may not exist.
“This move by the Environment Agency is amplifying the existing trend towards non-halogen solutions,” said the flame-retardant textile expert of FRX, Dr. Ulrich Girrbach. “Industry can switch to inherently flame-retardant fibers, or to using non-halogen flame retardants in textile coatings.” Girrbach continued, “This is a significant market for the UK and Ireland with around $10 million of flame-retardant potential,” the total European market opportunity would be much greater. Girrbach went on to say, “flame retardant textiles in Europe is a significant market opportunity worth well over $2 billion.”
Marc Lebel, Chief Executive Officer of FRX, commented that, “This is yet another example of environmental legislation driving the transition from halogenated flame retardants in important market sectors to safer alternatives; with regulations in force, or proposed, for individual flame retardants. However, the attention of regulators is increasingly focused on the family of brominated, or perfluoro, based flame retardants”.
For more information about FRX Innovations, please visit www.frx-innovations.com.
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 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 acceleration of current trends, size of the market opportunity and potential market share capture, and the amount of commercial and consumer furniture requiring to shift away from brominated 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.
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.
27.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
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