Nicolas Sordet, Chief Executive Officer of AFYREN, stated: “The transition to continuous production at AFYREN NEOXY, the first biorefinery using the AFYREN technology, demonstrates our command of all key stages of an innovative process with no equivalents worldwide. This major success marks the end of an especially demanding period for our teams, whose dedication and resilience I sincerely commend. We are now in the industrial ramp-up phase, enabling us to regularly deliver finished products to our customers in increasing volumes. Building on this success, we are planning to increase our industrial capacity production gradually in coming quarters, in order to better capitalize on AFYREN NEOXY.”
In recent weeks, the plant has produced hundreds of tons of bio-based acids, which are currently undergoing quality checks before delivery to customers under multi-year contracts. These contracts, with key players in sectors such as nutrition, fragrances, life sciences, and lubricants, represent over €165 million in cumulative revenue over the coming years. The achievement reflects two years of efforts by AFYREN’s teams to ensure equipment reliability and optimize industrial-scale operations.
This milestone marks the start of a ramp-up phase, with regular product shipments prioritized for long-term customers. AFYREN NEOXY aims to generate production revenue in the low single-digit million euros in 2025, with a goal to achieve positive EBITDA within a few quarters. At full capacity, the plant targets annual production revenue of approximately €35 million and an EBITDA margin of about 25%, equivalent to €9 million, with a capacity of 16,000 tons per year.
Stefan Borgas, Chairman of AFYREN’s Board of Directors, commented: “The transition to continuous production is a major milestone in AFYREN’s history. The Company is joining a very select group of companies that have successfully industrialized a competitive green technology. This is a remarkable achievement in the increasingly demanding and selective chemical industry. It opens up extremely positive prospects for our company in terms of industrial and commercial development.”
AFYREN plans targeted investments to address production bottlenecks at AFYREN NEOXY, aiming to increase capacity and profitability beyond initial targets. The company is also adopting a phased approach to future plant development, focusing on consolidating AFYREN NEOXY’s success before advancing plans for two additional plants. This strategy ensures financial stability and leverages operational experience. AFYREN maintains its goal of operating three plants, targeting €150 million in combined revenue and a 30% Group EBITDA margin at full capacity.
Additionally, AFYREN has collaborated with SUEZ to apply its technology in waste processing, further supporting its commitment to sustainable solutions.
