Afyren raises another €7m to ramp up bio plant

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French company raises funding through share capital increase as production ramps up at Afyren Neoxy biorefinery

CLERMONT-FERRAND - French green-tech company Afyren has raised a further €7 million ($8.3m) through a share capital increase to accelerate the industrial roll-out of its Afyren Neoxy biorefinery as production ramps up at the Carling Saint-Avold site.

The new funds, subscribed entirely by vehicles managed by French growth specialist Odyssée Venture, come on top of the €7 million debt financing for Afyren Neoxy reported in January, taking recent support for the bio-based acids platform to €14 million.

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