AFYREN announces its 2024 half-year financial results
Clermont-Ferrand/Lyon, September 30, 2024, 07h30 CEST – AFYREN, a greentech company that offers manufacturers natural, low-carbon ingredients produced using unique fermentation technology based on a completely circular model, today announced financial results for the half-year ended June 30, 2024, and approved by the Board of Directors on September 27, 2024.
AFYREN NEOXY: first products commercialized but adjustments in operations needed to reach continuous production
- Ambition to reach continuous production by end 2024 is maintained, subject to adjustments to the separation-purification stage
- First tons of biobased acids and fertilizers commercialized to customers
- Further development of partnerships and commercial pipeline to prepare for the future
- First sustainability report published and good execution of the ESG roadmap
A solid financial base, supporting the start-up of AFYREN NEOXY
Stable loss, reflecting effective control of operating expenses
€43 million in cash as of 30 June 2024, with cash consumption of €6 million, including temporary support for the ramp-up of continuous production at AFYREN NEOXY
Nicolas SORDET, CEO of AFYREN, said: “This summer saw many temperature records fall. Faced with this reality, repeating year after year, AFYREN is proud to offer a concrete response to the challenges of decarbonizing industry. The strategic priority given to the continuous start-up of our AFYREN NEOXY plant should not overshadow the many successes achieved in other areas, whether in R&D, partnerships, our ESG roadmap or the commercial pipeline.”
The 2024 Half-year Financial Report is available today on the page: https://afyren.com/en/investors/#documentation
To read the full press release :
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