AFYREN announces its 2024 financial results
Clermont-Ferrand/Lyon, March 27, 2025, at 07:30 am CET – AFYREN, a greentech company offering manufacturers bio-based, low-carbon ingredients through a unique fermentation technology based on a circular model, today announced its audited full-year financial results for the year ended December 31, 2024, as approved by the Board of Directors on March 26, 2025.
Operational progress towards continuous production
- Intensification of production campaigns in 2024 and early 2025
- Production and marketing of several dozen tons of acids
- Validation of product quality delivered to customers and prospects
Good cost control and financial support to AFYREN NEOXY start-up phase
- Underlying net loss and cash burn stable in 2024 vs. 2023, excl. plant financing
- Non-dilutive financing of plant start-up by AFYREN and its financial partners
Targeting continuous production by 2025, and development of future plants to resume
- AFYREN NEOXY: continuous production in 2025 and EBITDA breakeven after a few quarters
- This milestone will enable developments to resume with a view to achieving operational and financial targets for 2028 and beyond
Nicolas SORDET, CEO of AFYREN, said: “Founded in 2012 with the aim of offering an industrial-scale solution for transforming biomass co-products into alternatives to petroleum-based products, AFYREN has taken just ten years to move from the fundamental research phase to industrial production. By focusing on low-value raw materials, processed with our innovative natural fermentation technology, we can implement a profitable business model independent of oil-market fluctuations. The ingredients we produce meet the critical needs of manufacturers seeking more natural products and/or products with a reduced carbon footprint. This is underscored by the fact that our 1st AFYREN NEOXY plant has 165 million euros in sales secured by contracts. This industrial and commercial maturity sets us apart from other high-impact projects. Achieving our operational, financial and environmental ambitions is our priority, beginning with the start-up of continuous production at AFYREN NEOXY.”
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