Az AFYREN üzleti frissítéseket és célokat biztosít az AFYREN NEOXY műveletekhez

• AFYREN NEOXY: Improvements underway and new targets for operations:
  • Start of continuous production in 2024 and break-even in 2025
• Development continues in France and abroad
• Finances are solid, with cash reserves of c.€50 million expected by end 2023

CLERMONT-FERRAND, France & LYON FRANCE–(BUSINESS WIRE)–Regulatory News:

AFYREN (ISIN code: FR0014005AC9, ticker: ALAFY) (Paris:ALAFY), a greentech company that offers manufacturers bio-based, low-carbon ingredients produced using unique fermentation technology based on a completely circular model, has provided a business update and targets for AFYREN NEOXY operations

Nicolas SORDET, Chief Executive Officer of AFYREN, comments: “Our AFYREN NEOXY plant, the only biorefinery of its kind in the world, is being fine-tuned and prepped for continuous production. Our priority is to finish this work as soon as possible in order to serve our customers, who have always been aware of the possible delays inherent in commissioning an industrial site with an innovative process. Customer interest in our biobased acids is intact — our contracts confirm it. At the same time, we are pursuing our international projects, in particular by maintaining a close relationship with our partner in Asia, Mitr Phol, and are studying various scenarios to satisfy growing interest in strategic markets. Finally, in a complex financial environment, our solid cash position and the support shown by all our longtime partners, both commercial and financial, enable us to approach fiscal 2024 with confidence.”

Update on AFYREN NEOXY

Following the on-time delivery of the AFYREN NEOXY plant in 2022 and its successful industrial commissioning, our operational teams focused in 2023 on production start-up, manufacturing several tons of products and delivering the first batches in June 2023.

Continuous production is still our objective. Work carried out over the second half of the past year has enabled us to determine the following:

• The fermentations we have carried out validate our core process, with the expected yield. As a reminder, this is a biological process designed to convert biomass co-products directly into biosourced platform molecules, without pre-treatment
• Certain post-fermentation stages (related to chemical processes for separation and purification) have not reached the level of performance expected to enable the plant to run continuously.

With these factors in mind, the Company’s priority objective is to start continuous production in 2024, with the plant reaching break-even¹ in 2025. The prior objective was to reach break-even in the first half of 2024.

To further strengthen the links between the parent company and its operating unit, AFYREN co-founder Jérémy Pessiot took over as President of AFYREN NEOXY in the autumn of 2023.

Commercial appeal remains strong

AFYREN NEOXY has orders secured by contracts worth €165 million², to be recognized over several years. The Company has secured sales of almost 3/4 of its annual acid production and all fertilizer volumes, proving that its offerings are attractive to industrial customers. AFYREN can also confirm that the delays in the start-up of continuous production have had no impact on the secured contracts, and that its solutions continue to attract strong interest from both end-customers and distributors.

Ongoing industrial development in France and abroad

In 2023, AFYREN’s teams continued to work on the company’s worldwide industrial development. In Asia, AFYREN is in the process of setting up a joint venture in Thailand with Mitr Phol, the world’s third-largest sugar group. The aim of the project is to set up a biobased carboxylic acid plant near Bangkok. Recent discussions have focused on the structure and governance of the joint venture, the licensing of biotechnological know-how, and local industrial implementation. Talks are ongoing with a view to reaching a final agreement on the terms of the partnership. In addition, studies are being carried out to increase AFYREN’s production capacity, notably in France.

In 2024, AFYREN will extend this work while maintaining the priority of the operational teams on the start-up of continuous production at the first plant.

Erős készpénzpozíció

AFYREN anticipates a solid cash position of around €50 million on December 31, 2023, thanks to tight cost controls, compared with a very low debt level of around €5 million³. It has therefore the financial latitude to support AFYREN NEOXY as it prepares for the start of continuous production, and retains capital available to finance a second unit.

Az AFYREN-ről

A 2012-ben alapított AFYREN-t XNUMX-ben alapították, hogy kielégítsék a gyártók növekvő szükségleteit, hogy csökkentsék az inputok szénlábnyomát, és elmozduljanak a természetesebb összetevők felé, ezért bioalapú termékeket gyártanak a kőolajból származó molekulák helyettesítésére. Innovatív, egyedi és szabadalmaztatott eljárásával a francia zöldtechnológiai vállalat alacsony szén-dioxid-kibocsátású, bioalapú alternatívákat kínál a következő ágazatokban: emberi és állati takarmányozás, kozmetikumok, íz- és illatanyagok, valamint finom vegyszerek. A helyi, nem élelmiszeripari biomassza felértékelésével az AFYREN segít a gyártóknak fenntarthatóbb késztermékeket kínálni, miközben versenyképesek maradnak.

A cég ambiciózus fejlesztési tervet folytat nemzetközi ügyfelei jobb kiszolgálása érdekében. Első üzeme, az AFYREN NEOXY, a Bpifrance SPI-alapjával közös vállalkozás Franciaországban található, elsősorban az európai piac kiszolgálására. 2023 elején az AFYREN bejelentette egy thaiföldi gyári projekt elindítását, a cukoripar egyik vezető vállalatával partnerségben. Az AFYREN az amerikai kontinensen is bővíti jelenlétét, összhangban a már aláírt forgalmazási megállapodásokkal.

2023-ra az AFYREN több mint 110 embert foglalkoztatott Lyonban, Clermont-Ferrandban és Carling Saint-Avoldban; a vállalat évente költségvetésének 20%-át fekteti be K+F-be.

AFYREN has been listed on Euronext Growth® in Paris since 2021 (ISIN code: FR0014005AC9, ticker: ALAFY).

További információért: https://afyren.com/

__________________

¹ Current production EBITDA

² Total volumes x sales price over contract duration

³ €5.2 million including lease liabilities and €4.9 million excluding lease liabilities at end-June 2023

Kapcsolatok

AFYREN
Director for ESG, Communications and Public Affairs
Caroline Petigny

caroline.petigny@afyren.com

Befektetői kapcsolatok
Mark Reinhard

investisseurs@afyren.com

NewCap
Befektetői kapcsolatok
Théo Martin / Mathilde Bohin

Tel: 01 44 71 94 94

afyren@newcap.eu

NewCap
Médiakapcsolatok
Nicolas Merigeau / Gaëlle Fromaigeat

Tel: 01 44 71 94 98

afyren@newcap.eu

Nemzetközi médiakapcsolatok
Bogert-Magnier kommunikáció

James Connell

+ 33 6 2152 1755

jim@bogert-magnier.com

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• Forrás: https://www.fintechnews.org/afyren-provides-business-update-and-targets-for-afyren-neoxy-operations/