TAGS: Flame Retardants Sustainability / Natural Solutions
FRX Innovations announces commercial product launches of new Nofia® based products by two globally recognized chemical companies, and one important regional producer, this quarter.
Each application is poised to significantly contribute to FRX’s projected year-over-year revenue growth for 2024. The first is expected to generate US $1M in Nofia® product sales in 2024, and the others in excess of US $0.5M.
Targeting Clean Energy, and Automotive Market
FRX expects to realize a contribution margin of about 45% over variable costs for both pieces of business. Commercial shipments will commence this month against purchase orders, for one of these applications.
Two applications leverage the unique benefits which FRX’s Nofia
® flame retardants bring in polyurethane, targeting highly attractive markets such as Clean Energy, and Automotive. This is yet further evidence that top chemical companies around the world, with access to all available technologies, are choosing Nofia products from FRX to meet the high-performance standards required for these markets, at a competitive cost for the benefits provided.
The third new product is being introduced by a major Asian specialty chemicals manufacturer with global leadership in polyester. FRX delivers a range of Nofia
® products suitable for use in polyester applications, such as textiles used in transportation and hospitality markets, films used in automotive applications, films used in electronic devices and structural foam used in transportation and building and construction applications.
Strong Sales Pipeline2: FRX’s sales pipeline consists of 237 customer projects. Nearly 70% (187 customer projects) are less than 12 months old. These customers are turning to FRX due to an urgency to replace their lines of legacy brominated and PFAS flame retardants, with 36% of all customer projects focused on PFAS replacement.
Marc Lebel, CEO of FRX, comments on this milestone, “
FRX has developed a strong pipeline of new projects across multiple applications. These newly launched applications demonstrate the value Nofia® flame retardants bring in the market, as well as the value being delivered by our technical and commercial team.”
Source: FRX Innovations