Sales representing 60% of the forecast acid production of the AFYREN NEOXY plant at full capacity are secured1
Food and feed markets are growing by more than 6% per year2
CLERMONT-FERRAND, France & LYON, France, December 21, 2021– (BUSINESS WIRE) – Regulatory news:
AFYREN (Paris: ALAFY), a greentech company that offers manufacturers natural and low-carbon products created with a technology based on natural microorganisms, has signed two strategic contracts for the long-term supply of bio-based ingredients by AFYREN NEOXY to two major players in the nutrition (human and animal) and health markets.
The two contracts were signed with large companies that are leaders in their sector:
the first is intended for the manufacture of high quality food ingredients, especially for the confectionery, meat, chocolate and dairy markets
the second is intended for the manufacture of nutritional and health products for animals.
The markets addressed by these partners have significant growth potential in a context of growing consumer demand for natural and bio-based products. AFYREN responds to these trends by ensuring a local supply chain for the raw materials used by its AFYREN NEOXY plant and thanks to its innovative proprietary technological platform.
Analysis from Data Bridge Market Research shows that the animal nutrition market is expected to grow at a compound annual growth rate of 6.5% for the period 2021 to 2028. The human nutrition market is growing at a similar rate, according to a report from Wellness Creative Co.
Taking into account these transactions, 60% (by volume) of the organic acid production to be produced by the AFYREN NEOXY plant is already pre-sold.
Nicolas SORDET, CEO of AFYREN, noted: “In the wake of the recently announced partnership with ENNOLYS, these two new agreements underline the attractiveness of our products and our unique positioning, based on a circular economy and a zero industrial waste approach. The markets we are going to address are constantly growing. and are experiencing strong demand for sustainable and bio-based ingredients, driven by consumers seeking healthier and more responsible lifestyles. By ensuring the supply of these two major players in animal nutrition and human food, We are taking additional measures to secure AFYREN NEOXY’s future revenues while positioning ourselves as a leading supplier of bio-based organic acids at European level. This allows us to continue to guarantee a successful start-up for this first plant and to approach its ramp-up with serenity.
Created in 2012 to meet the growing need of industries to reduce the use of petroleum derivatives in their production chain, AFYREN produces biomolecules resulting from the reuse of non-food biomass. These ingredients are widely used in human and animal nutrition, flavors and fragrances, cosmetics, and fine chemicals. This renewable carbon production, firmly anchored in the circular economy, uses fermentation technologies resulting from 10 years of research and patented around the world. AFYREN won the Concours Mondial de l’Innovation 2030 in the “Plant proteins and plant chemistry” category and was selected in the French Tech 120 in 2020 and 2021. In 2018, AFYREN got involved in its industrial project by creating the AFYREN NEOXY joint venture with the SPI fund of Bpifrance. The AFYREN NEOXY plant under construction in the Grand Est region will produce AFYREN organic acids in 2022. AFYREN and AFYREN NEOXY employ more than 70 people at their sites in Lyon, Clermont-Ferrand and Carling Saint-Avold. In 2021, AFYREN is listed on Euronext Growth® in Paris, raising a total amount of 70.4 million euros with the objective of accelerating its industrial development (Afyren ISIN: FR0014005AC9, mnemonic: ALAFY).
For more information: afyren.com
1 Excluding fertilizer production already 100% pre-sold
2 https://www.wellnesscreatives.com/nutrition-industry-statistics/ & https://www.databridgemarketresearch.com/reports/global-animal-nutrition-market
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211220005799/en/
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