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AFYREN receives €4 million in grants for AFYREN NEOXY and starts new performance-driven investment strategy

8 July 2025

Press release

Clermont-Ferrand/Lyon, July 8, 2025, at 5:45 p.m. CEST – AFYREN, a greentech company offering industrial customers bio-based, low-carbon products through its unique fermentation technology based on a circular model, today receives €4 million in grants for AFYREN NEOXY and starts a performance-driven investment strategy to reinforce AFYREN’s forward-looking industrial model.

“This public support from the French State reinforces our forward-looking industrial model, serving both the ecological transition and economic sovereignty. It comes at a pivotal moment in AFYREN’s history: after having validated our technology at industrial scale, we are now entering a phase of operational optimization and commercial acceleration. This subsidy enables AFYREN NEOXY to consolidate its achievements and initiate our investment strategy aimed at significantly enhancing the plant’s performance and shortening the critical path to the Group’s overall profitability.”

Nicolas SORDET, Chief Executive Officer of AFYREN

Grant received at a pivotal moment for AFYREN NEOXY

The funds granted are part of the “France Relance” initiative by Bpifrance to support strategic investments in critical sectors. This subsidy represents the second installment of an €8 million package, of which €2 million was previously granted to AFYREN NEOXY at the launch of the program in June 2021.

This new payment comes at a key moment in AFYREN NEOXY’s industrial development. This one-of-a-kind biorefinery has recently entered its industrial ramp-up phase, with the goal of producing and marketing several hundred tons of products in the second half of 2025.

The funds will be partially used to consolidate AFYREN NEOXY’s current achievements by funding ongoing adjustments to the plant as part of its reliability program, plus other strategic investments to enhance the plant’s performance and optimize operations.

AFYREN NEOXY Optimization Strategy

AFYREN has identified improvements which, with an additional investment of around €20 million, would enable the company to increase production capacity to 20 kt —a 20% increase compared to the initially planned 16 kt— and raise projected EBITDA to €14 million, representing a 40% increase over current forecasts of €9 million.
To support the planned investment and the ramp-up of AFYREN NEOXY, AFYREN may draw on part of its available cash, estimated at around €27 million as of end-June 2025, while ensuring it maintains sufficient financial flexibility for operations. Other sources of financing may also be mobilized, with the aim of preserving a balanced and sustainable financial structure.

This optimization strategy would enable the AFYREN Group to reach breakeven with its very first plant, with AFYREN’s proportional share of EBITDA from the AFYREN NEOXY plant covering the holding company’s annual cash consumption.