Afyren takes full control of Neoxy biorefinery

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French green-tech buys out co-shareholder to gain full governance of Grand-Est fermentation bio-plant for the first time

CLERMONT-FERRAND – French green-tech company Afyren has completed the acquisition of the remaining 49% stake in its Afyren Neoxy biorefinery, buying out co-shareholder SPI — the Bpifrance-managed industrial projects fund — for €11.3 million ($13m).

The deal, based on an enterprise value independently assessed by KPMG at €79 million ($90.8m), comes after Afyren raised €7 million ($8m) through a share capital increase in February and €7 million ($8m) debt financing in January.

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