on AFYREN (EPA:ALAFY)
AFYREN NEOXY Secures €10 Million Sustainable Financing for 2025 Expansion
AFYREN, a French greentech firm, has announced a €10 million sustainability-linked loan to boost its subsidiary AFYREN NEOXY’s financial capacity. This funding aims to support continuous production starting in 2025.
In 2024, AFYREN NEOXY made its initial sales of biobased acids. Despite achieving commercial production, continued operational adjustments are needed. These adjustments are expected to ensure steady production by 2025.
AFYREN's cash position was approximately €33 million at the close of 2024. The new financing, led by BNP Paribas and other banks, is pivotal in bolstering AFYREN NEOXY’s ramp-up phase.
This financial strategy supports the company’s commitment to Corporate Social Responsibility (CSR), linking loan terms to its CSR performance. The loan complements prior financial injections, enhancing AFYREN’s readiness for future projects.
R. H.
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