Afyren: share price soars thanks to US contract

(CercleFinance.com) - Afyren shares gained over 12% on Thursday morning on the Paris Bourse in heavy trading volumes, as the French greentech firm announced it had won a new contract in the USA.


At 11:30 a.m., Afyren shares were up 12.1%, one of the biggest gains on the Paris market, with trading volumes already more than 30 times the average daily trading volume over the last four sessions.

Afyren announced this morning that it had signed a new multi-year contract with a US company specializing in nutraceutical ingredients and solutions.

Under the agreement, the company will supply biobased acids derived from its natural fermentation process, used as preservatives or flavoring agents for dietary supplements.

Initially involving limited volumes, this contract may evolve towards more significant quantities, the greentech company emphasizes, without disclosing the amount involved.

The company emphasizes that this is a fast-growing, high value-added market, at the crossroads of food and pharmaceuticals.

This multi-billion dollar market is expected to grow by close to 10% over the next few years, as consumers seek products that can improve their health and well-being, with a focus on natural, sustainable ingredients.

This announcement comes at a time when Afyren successfully finalized the first long acid production cycles last June, to such an extent that it is aiming for continuous production in 2024 and profitability in 2025.

Since the beginning of January, Afyren's share price has risen by 65%, giving it a market capitalization of over 80 million euros.

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