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Successfully completed multiple long production cycles and delivered first commercial quantities of acid
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Target to start serial production in 2024 confirmed
Clermont-Ferrand, France and Lyon, France, June 4, 2024–(BUSINESS WIRE)–Regulatory News:
AFYREN (Paris: ALAFY), During a visit organized for its private and institutional shareholders, the green tech company, which offers manufacturers bio-based, low-carbon feedstocks produced using a proprietary fermentation technology based on a fully circular model, provided an update on the AFYREN NEOXY plant's recent activities and confirmed its aim to start continuous production in 2024.
“After months of testing and trials, our team now has firm control over the process and its critical steps. We welcome their tenacity and determination to face the challenges associated with the unique and innovative nature of our process. Based on these achievements, we are confident that we can start serial production of AFYREN NEOXY in 2024, making AFYREN a leader in industrial green chemistry worldwide.“”It has said Nicholas Solde, CEO of AFYREN;
The work we have been doing since the beginning of the year has paid off, especially in the separation stage. Improved equipment reliability and increased team skills in key stages of the process have enabled us to run multiple long production cycles under expected operating conditions.
The successful completion of the past few weeks has produced several tons of acid. These acids are now in the final stage of the process, the purification stage. AFYREN does not anticipate any technical issues at this stage, but a break-in period is required. Current operations should enable the delivery of the first commercial quantities of bio-based acid to AFYREN's partners.
As operations progress, improvements identified in recent months will be implemented in the coming weeks. The work will be carried out without impacting the ramp-up schedule. AFYREN confirms its target of starting serial production and reaching breakeven in 2024.1 2025.
AFYREN NEOXY shareholders will cover any additional financing requirements, particularly operational costs associated with the final weeks of launch.
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About AFYREN
AFYREN is a French greentech company founded in 2012 to address the challenge of decarbonizing industrial materials. The company's natural, innovative and proprietary fermentation technology enhances the value of local biomass from non-food agricultural by-products, replacing petroleum-based ingredients typically used in many product formulations. AFYREN's 100% bio-based, low-carbon and sustainable solutions can address the decarbonization challenges of various strategic sectors, including human and animal nutrition, flavors & fragrances, life sciences & materials, and lubricants & technical fluids. AFYREN's plug-and-play, circular technology combines sustainability and competitiveness without requiring manufacturers to change their processes.
The Group's first French factory, AFYREN NEOXY, a joint venture with Bpifrance's SPI fund, is located in Saint-Avold in the Grand Est region of France and serves mainly the European market.
AFYREN is developing a project in Thailand with a global leader in the sugar industry and is expanding its presence in the Americas with an already signed distribution agreement.
As of the end of 2023, AFYREN will employ around 120 people in Lyon, Clermont-Ferrand and Carling-Saint-Avold. The company invests 20% of its annual budget in research and development to further develop sustainable solutions.
AFYREN is listed on Euronext Growth® The exchange will open in Paris in 2021 (ISIN code: FR0014005AC9, mnemonic: ALAFY).
For more information, visit afyren.com
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1 Current Production EBITDA
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