Kemin Industries, alongside strategic shareholder Bpifrance, has invested €23 million in AFYREN to optimize and expand its biorefinery operations, reflecting strong confidence in sustainable innovation and market growth.

Target Company Information

AFYREN, a greentech company, specializes in providing biosourced and low-carbon products through its unique fermentation technology based on a completely circular model. The company has successfully developed a strong relationship with Kemin Industries since 2018, aiming to deploy innovative solutions at an industrial scale. Recently, AFYREN announced a capital increase, raising €23 million, fully subscribed by Kemin Industries and strategic shareholder Bpifrance, through its Large Venture fund.

The capital increase was priced at €2.40 per share, reflecting a 9% premium over the volume-weighted average price (VWAP) of AFYREN's shares over the three trading days prior to this pricing. This funding is intended for the optimization and expansion of AFYREN's NEOXY biorefinery to enhance production capacity and fulfill increasing market demand.

Industry Overview in France

The biosourced and biotechnology sector in France is flourishing, supported by a strong push for sustainability and reduced carbon emissions. The French government, recognizing the importance of the bioeconomy, has implemen