AFYREN raises €23M to expand AFYREN NEOXY biorefinery

Clermont-Ferrand/Lyon, November 26, 2025, 07h30 CEST – AFYREN, a greentech company that offers manufacturers natural, low-carbon ingredients produced using unique fermentation technology based on a completely circular model, today the successful completion of a share capital increase of €23 million (the “Share Capital Increase“) subscribed by Kemin Industries (https://www.kemin.com/eu/en/home?utm_medium=ppc&utm_source=google&utm_campaign=wfx__search__branded_eu&utm_term=kemin&utm_content=kemin_branded&utm_bu=ki&_gl=1*18459wb*_up*MQ..*_gs*MQ..), a global specialty ingredients and biotechnology leader, and strategic shareholder Bpifrance, via its Large Venture fund.

• – €20 million invested by industry leader Kemin Industries
• – €3 million invested by strategic shareholder Bpifrance, via its Large Venture fund
• – Transaction completed at €2.40 per share, representing a 9% premium vs. 3-day VWAP share price prior to the determination of the issue price, i.e. €2.21
• – Plant optimization program has now started to gradually increase capacity

The issue price of €2.40 per share represents a 9% premium over the Volume Weighted Average Price of AFYREN shares on Euronext Growth Paris over the last 3 trading days – from 20 to 24 November 2025 (the “3-day VWAP”).

Nicolas SORDET, Chief Executive Officer of AFYREN, stated: “In July we presented a plan to optimize our first biorefinery AFYREN NEOXY, with targeted investment bringing both higher capacity and greater performances. Today, we are delighted to announce an investment by industry leader Kemin Industries, a customer since 2018 with which we share a common vision of sustainability, innovation and success. We also welcome investment from our strategic shareholder Bpifrance. This new commitment is a clear testimony of the strength of our offering within an increasingly structured and supportive ecosystem.”

Dr. Chris Nelson, President and CEO, Kemin Industries stated: ” AFYREN is a trusted supplier, with a proprietary novel technology that enables prosperous breakthrough innovations for ingredients and molecules widely used in our Kemin solutions. With this AFYREN investment, we are accelerating the optimization and ramp-up of capacity in Europe, one of our key markets for nutritional ingredients, unlocking value for both companies.”

To read the full press release click here.