AFYREN, a green technology company producing natural, low-carbon ingredients via innovative fermentation, has successfully completed a €23 million share capital increase.
The funding was led by Kemin Industries, a global leader in specialty ingredients and biotech, which invested €20 million. Bpifrance, through its Large Venture fund, contributed €3 million to support AFYREN’s growth.
The shares were issued at €2.40 each, representing a 9% premium over the three-day volume-weighted average price of €2.21 prior to the offering. This strategic investment will fund plant optimization efforts to gradually increase capacity and improve performance.
Nicolas SORDET, AFYREN’s CEO, expressed enthusiasm about the investment. He highlighted the company’s ongoing plans to enhance its first biorefinery, AFYREN NEOXY. He noted that the new funding from Kemin Industries and Bpifrance, reflects confidence in AFYREN’s innovative, sustainable approach within a growing industry ecosystem.
Dr. Chris Nelson, President and CEO of Kemin Industries, stated that AFYREN’s proprietary technology enables breakthroughs in ingredients used across Kemin’s solutions. He emphasized that the investment accelerates capacity optimization in Europe, a key market for nutritional ingredients, unlocking new value for both companies.
This capital raise strengthens AFYREN’s position in the sustainable ingredients sector. The company’s circular model supports eco-friendly production, aligning with global efforts to reduce carbon footprints. The funds will help scale operations and meet increasing demand for natural, low-carbon ingredients in various industries.
