AFYREN Secures €7 Million to Bolster Industrial Growth

AFYREN, a French greentech company, has successfully raised €7 million through a share capital increase, aiming to support its industrial deployment. The funds were secured from Odyssée Venture, known for investing in French growth companies. This financial move comes as AFYREN's production scales up at its AFYREN NEOXY plant, highlighting strategic changes within the company's shareholder structure.

The new shares were issued at €2.55 each, marking a 10.7% discount from the recent trading average, yet a 6.3% premium over the prior capital increase. After costs, net proceeds amount to approximately €6.65 million, which will fortify AFYREN's financial position amid expansion and potential shifts in its partnership with SPI1, a key shareholder.

Odyssée Venture's involvement reflects confidence in AFYREN's sustainable production technology, which utilizes fermentation processes for bio-based, low-carbon ingredients. This capital injection aligns with AFYREN's growth strategy as it expands its footprint in Europe and beyond.