AFYREN has achieved continuous production at its first biorefinery, AFYREN NEOXY. This milestone marks a key step in its industrial strategy and helps speed up commercialization. In recent weeks, the plant produced hundreds of tons of biobased acids. These products are currently being qualified for delivery under multi-year contracts with customers.
Nicolas Sordet, CEO of AFYREN, said: “Moving to continuous production proves our mastery of this innovative technology. It ends a demanding period for our teams. Now, we are starting a ramp-up to increase capacity and benefit from this achievement.”
All process stages, from fermentation to finished products, are now running simultaneously. This has been the result of two years of effort to ensure equipment reliability and operational control. The plant expects to generate around €35 million in annual revenue at full capacity. The current EBITDA margin is about 25%, which is roughly €9 million in EBITDA. During the ramp-up, shipments will prioritize long-term customers. AFYREN has secured contracts worth over €165 million, which will generate revenue over the next few years.
Looking ahead, AFYREN NEOXY expects that in 2025, revenue will be in the low single-digit millions of euros. The plant is on track to break even within a few quarters. The company plans to invest in removing bottlenecks, increasing capacity, and improving profitability. Its goal is to build and operate three plants. At full capacity, these would generate €150 million in revenue with a target EBITDA margin of around 30%.
Instead of a strict timeline, AFYREN is considering a phased approach. This will help the company consolidate the gains from its first biorefinery. It will also allow better control of cash flow and easier financing for future plants.
Stefan Borgas, Chairman of AFYREN’s Board, said: “Reaching continuous production is a major milestone. It puts AFYREN among a select group of companies that have industrialized green chemistry. This achievement opens up strong prospects for growth and expansion.”
