AFYREN Provides Business Update on Its AFYREN NEOXY Plant
04 Junho 2024 - 2:30AM
Business Wire
- Successful completion of several long production cycles to
deliver the first commercial volumes of acids
- Confirmation of the objective to start continuous production in
2024
Regulatory News:
AFYREN (Paris:ALAFY), a greentech company that offers
manufacturers bio-based, low-carbon ingredients produced using
unique fermentation technology based on a completely circular
model, provided an update on recent activity of its AFYREN NEOXY
plant during a visit organised for individual and institutional
shareholders, and confirmed its target to start continuous
production in 2024.
“After several months of tests and trials, our teams have now a
good control of our process and its critical steps. I welcome their
resilience and determination to meet the challenges related to the
unique and innovative nature of our process. Based on these
achievements, we are very confident in our ability to ensure the
start of continuous production of AFYREN NEOXY in 2024, and to make
AFYREN a leading player in industrial green chemistry worldwide",
states Nicolas Sordet, Chief Executive Officer of
AFYREN.
The work undertaken since the beginning of the year,
particularly on the separation stage, paid off. The improved
reliability of the equipment combined with the increased skills of
the teams regarding a critical stage of the process enabled several
long production cycles, carried out under operating conditions in
line with expectations.
The successes of the last few weeks enabled several tons of acid
to be produced. These acids are currently in the purification
phase, the final stage of the process. AFYREN does not foresee any
technical difficulties at this stage, although a running-in period
is required. The current operations should enable the first
commercial volumes of bio-based acids to be delivered to AFYREN's
partners.
Improvements identified in recent months following progress made
in the conduct of operations will be implemented in the coming
weeks. This work will be carried out without impacting the start-up
schedule: AFYREN confirms its objective to start continuous
production in 2024 and reach break-even1 in 2025.
AFYREN NEOXY's shareholders will cover additional financing
requirements, in particular operating costs related to the final
weeks of start-up.
***
About AFYREN
AFYREN is a French greentech company launched in 2012 to meet
the challenge of decarbonizing industrial supplies. Its natural,
innovative and proprietary fermentation technology valorizes local
biomass from non-food agricultural co-products, replacing
petro-sourced ingredients usually used in many product
formulations. AFYREN's 100% biobased, low-carbon and sustainable
solutions can meet decarbonization challenges in a wide variety of
strategic sectors: human and animal nutrition, flavors and
fragrances, life sciences and materials, and lubricants and
technical fluids. AFYREN's plug-and-play, circular technology
combines sustainability and competitiveness, with no need for
manufacturers to change their processes.
The Group's first French plant, AFYREN NEOXY, a joint venture
with Bpifrance's SPI fund, is located in the Grand-Est region of
France, in Saint Avold, serving mainly the European market.
AFYREN is also pursuing a project in Thailand with a world
leader in the sugar industry, and is developing its presence in the
Americas, following up on distribution agreements it has already
signed.
At the end of 2023, AFYREN employed about 120 people in Lyon,
Clermont-Ferrand and Carling Saint-Avold. The company invests 20%
of its annual budget in R&D to further develop its sustainable
solutions.
AFYREN has been listed on the Euronext Growth® exchange in Paris
since 2021 (ISIN code: FR0014005AC9, mnemonic: ALAFY).
Find out more: afyren.com
___________________ 1 Current production EBITDA
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version on businesswire.com: https://www.businesswire.com/news/home/20240603011023/en/
AFYREN
Communication Caroline Petigny
caroline.petigny@afyren.com
Investor Relations Mark Reinhard invest@afyren.com
NewCap
Investor Relations Théo Martin / Mathilde Bohin Tél : 01
44 71 94 94 afyren@newcap.eu
NewCap
Media Relations Nicolas Merigeau Tél : 01 44 71 94 98
afyren@newcap.eu
International Media relations Bogert-Magnier
Communications James Connell +33 6 2152 1755
jim@bogert-magnier.com
Afyren (EU:ALAFY)
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