AFYREN and Bpifrance create new organic acids biomolecule production company

In France, AFYREN, a producer of bio-based building blocks with natural fermentation technologies, and Bpifrance, through its SPI industrial projects fund, finalized the agreements for the creation of their joint subsidiary AFYREN NEOXY. This company, backed by nearly 50 million euros of capital, will house the first industrial unit based on the biomolecule production technology developed by AFYREN, which successfully completed a final pre-industrial phase in 2018, validating the efficiency of its non-GMO and zero-waste biological processes.

This agreement follows the 21 million euros of funds raised in January 2019, and is part of the 60 million euro global financing program, which will enable AFYREN to take its industrial project forward through to its market release. The SPI fund will invest 23 million euros for a 49% stake in AFYREN NEOXY, with AFYREN holding the remaining 51% of its capital.

The new plant will be based on the CHEMESIS platform in Carling-St Avold, in Moselle, on a 3-hectare site. Based on co-products from the sugar industry, this unit will produce a range of seven organic acids with an initial annual capacity of 16,000 tons.