on AFYREN (EPA:ALAFY)
AFYREN Secures €4 Million Grant and Unveils New Investment Strategy
AFYREN, a French greentech firm, has secured €4 million in grants for its biorefinery AFYREN NEOXY. This funding is part of the "France Relance" initiative by Bpifrance, supporting strategic investments in critical sectors. This subsidy marks the second installment of an €8 million package, crucial as AFYREN NEOXY enters its industrial ramp-up phase.
The funds will support ongoing plant enhancements under a reliability program. AFYREN plans a €20 million investment to boost production capacity by 20% to 20 kt and increase projected EBITDA by 40% to €14 million, aiming for breakeven with its first plant. AFYREN may use its available cash of approximately €27 million to support these investments while maintaining financial flexibility.
CEO Nicolas Sordet emphasized the significance of this support for AFYREN's economic and ecological goals. The strategy aims to enhance commercial performance and accelerate AFYREN's path to profitability.
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