January 8, 2025 - 23:24
CLERMONT-FERRAND, France & LYON, France, January 08, 2025—In a significant development for the greentech sector, AFYREN has provided an update on its operations and revealed a new financing initiative amounting to €10 million for its subsidiary, AFYREN NEOXY. This funding is aimed at advancing the company's mission to supply manufacturers with biobased, low-carbon ingredients through innovative fermentation technology that adheres to a circular economy model.
The company has adjusted its timeline for the continuous production of AFYREN NEOXY, now targeting a launch in 2025, a shift from the previously anticipated 2024 start date. This strategic decision underscores AFYREN's commitment to ensuring the highest standards of production quality and sustainability.
Additionally, AFYREN reports a robust cash position of approximately €33 million, positioning the company well for its upcoming projects and initiatives. This financial stability is expected to support further advancements in their sustainable product offerings, reinforcing their role as a leader in the biobased ingredients market.
