Afyren raises more capital

French greentech company Afyren has completed a share capital increase of €23 million with an investment by Kemin Industries, a speciality ingredients producer that has been a customer since 2018, and strategic shareholder Bpifrance, via its Large Venture fund. 

This will be used to expand the Afyren Neoxy biorefinery at Clermont-Ferrand, which makes biobased, low-carbon ingredients by fermentation, to about 20,000 tonnes/year. Afyren will also optimise production to meet commercial demand and improve the plant’s financial performance.