Afyren: non-dilutive financing for Saint Avold plant

(CercleFinance.com) - Afyren climbed more than 3% on the Paris Bourse on Friday, following the announcement that it had secured nine million euros in financing to support the start-up of its French plant.


The 'greentech' company - the originator of a natural fermentation process that transforms non-food agricultural residues into petro-sourced ingredients - reports that it has benefited from a so-called 'new industry' loan from Bpifrance.

This non-dilutive financing - released in two tranches of six and three million euros over a total term of 15 years, including a three-year grace period - is part of a scheme developed by Bpifrance following the introduction of the 'France 2030' plan to finance industrialization in France.

The Afyren Neoxy plant - located in Saint Avold in the Grand-Est region of France - is intended to serve mainly the European market, with the first acid deliveries made in October already receiving positive feedback from customers on product quality and initial invoicing.

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