Startup Develops New Plastic for Flooring
River Falls, WI, Feb. 14, 2014 -- Magma Flooring LLC said it has developed a new engineered plastic sheet materials that are chlorine-free, phthalate-free, plasticizer-free, have essentially no odor, and can be readily recycled.
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Magma, spun out from Interfacial Solutions LLC in 2012, said that it has completed its first external equity offering of $2 million, led by NEW Capital Fund of Little Chute, Wisconsin.
Magma said the material can be used in flooring, plastic printed graphic media, and industrial plastic sheeting.
The materials are based on recycled plastics and natural fillers, Magma said, and are designed to be an alternative to PVC.
The firm's new factory will begin producing this month, the company said.