Afyren: production success at Neoxy plant

(CercleFinance.com) - Afyren gained over 4% on the Paris Bourse on Tuesday, after successfully completing several long production cycles at its Neoxy plant, with a view to delivering the first commercial volumes of acids.


On the occasion of a visit organized for its shareholders, the greentech company assured them that its teams now had a good command of the processes and stages following several months of tests and trials.

The company said it was "very confident" in its ability to ensure continuous start-up of the site in 2024.

Afyren uses local biomass from non-food agricultural residues to replace the petro-sourced ingredients usually used in animal nutrition, lubricants or technical fluids.

The company specifies that operations will be carried out in the coming weeks following the identification of potential improvements, but with no impact on the start-up timetable.

Afyren has also confirmed its objective of reaching break-even - in the sense of current production Ebitda - in 2025.

The share price has gained over 41% since the beginning of the year.

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