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AFYREN’s €23 Million Boost: How a Circular Biorefinery Could Reshape Europe’s Sustainable Chemical Industry

26 November 2025

AFYREN has announced that it has raised €23 million to expand production at its first industrial circular biorefinery, representing a key moment for Europe’s transition to bio-based chemicals, low-carbon manufacturing, and circular industrial innovation.

AFYREN may not yet be a widely known brand, but the organic acids that the France-based company produces show up everywhere in modern life: food preservation, cosmetics, feed ingredients, materials, coatings, lubricants, and fragrances. Traditionally, these acids have been made from fossil fuels using energy-intensive processes. AFYREN’s biorefinery model aims to break that pattern — and this latest investment suggests the shift is gaining momentum.

What a Biorefinery Is — and Why Europe Needs Them

A biorefinery is the sustainable counterpart to an oil refinery. Instead of starting with petroleum, it transforms biomass — plant material or agricultural by-products — into valuable chemicals and ingredients.

At AFYREN NEOXY, the company’s flagship biorefinery in France, the raw material is sourced from the agri-food industry, especially sugar-beet co-products. These would normally become low-value waste. Instead, AFYREN uses them to produce a suite of seven bio-based, low-carbon organic acids.

The process is elegantly circular:

  1. Biomass feedstock arrives from local agriculture.

  2. Natural microorganisms ferment the material (much like brewing).

  3. Fermentation yields organic acids used across multiple industries.

  4. Residual biomass becomes a natural fertiliser, closing the loop.

No petrochemicals, no hazardous waste — just carbon-light chemistry powered by biology.

This model is valuable particularly as Europe faces increasing pressure to decarbonise supply chains, reduce dependence on fossil-based chemicals, and build resilient, regional production systems. 

Why AFYREN Is Unique in the Circular Bio-Based Chemicals Landscape

AFYREN operates in a growing market that includes major players like Corbion, BASF, Cargill and other industrial biotech innovators. But its approach stands out for several reasons:

1. A Portfolio of Seven Low-Carbon Organic Acids

While many competitors focus on a single molecule (like lactic acid), AFYREN makes a family of C2–C6 organic acids. This gives it reach across food, cosmetics, agriculture, materials, and more.

2. A Biomimetic Fermentation Platform

No GMOs, no pre-treatment, no harsh chemistry. AFYREN mimics natural microbial ecosystems that convert biomass into acids with minimal inputs.

3. Fully Circular and Zero-Waste

Leftovers from fermentation become a regenerative fertiliser — a rare example of industrial chemistry that truly aligns with the circular economy.

4. First-of-Its-Kind Industrial Biorefinery

AFYREN NEOXY is the first operational plant globally dedicated to producing this specific set of acids from agricultural co-products.

5. A Replicable, Regionally Rooted Model

The company envisions a network of biorefineries located near biomass sources — a “local-to-local” industrial strategy aligned with Europe’s sustainability goals.

This combination — circularity, specialization, and industrial proof — gives AFYREN a distinctive position in the European greentech sector.

The €23 Million Raise: Fuel for Scaling Europe’s Circular Chemistry

While AFYREN has already achieved continuous industrial production, scaling a first-of-its-kind biorefinery is complex. The new funding will help:

  • increase annual capacity from 16,000 to ~20,000 tonnes

  • streamline and optimise operations after the first full industrial year

  • improve equipment and reliability

  • support rising demand from customers seeking bio-based alternatives

One of the most significant signals is that Kemin Industries, a global ingredients company and AFYREN customer, is also a key investor in this round. Customers rarely invest unless they see strategic value — and a secure, low-carbon source of organic acids is exactly that.

For AFYREN, this raise is less about financial engineering and more about industrial maturity: turning breakthrough biotech into stable, competitive manufacturing.

What AFYREN Makes — and Why It Matters to Industry

The organic acids AFYREN produces may not be visible to consumers, but they are essential building blocks across:

  • food & beverage (preservation, flavours)

  • cosmetics & personal care (pH adjustment, formulations)

  • animal nutrition (preservatives, digestibility enhancers)

  • specialty chemicals (coatings, lubricants, polymers)

  • agriculture (biodegradable inputs, soil solutions)

Switching these ingredients to bio-based, circular sources has outsized impact because:

  • These acids are used in massive volumes.

  • They are traditionally petro-derived.

  • They sit early in value chains, multiplying sustainability impact downstream.

AFYREN’s model therefore creates system-level sustainability benefits, not just greener niche products.

Competitors and Peers: Understanding AFYREN’s Position

AFYREN operates alongside:

  • Corbion – global leader in lactic acid

  • BASF – diversified producer expanding bio-based materials

  • Cargill – active in fermentation-derived chemicals

  • Various biotech startups exploring next-gen bioprocessing

What sets AFYREN apart is not size, but focus:

  • Competitors often tackle one molecule or broad chemical families.

  • AFYREN specialises in a distinct cluster of seven hard-to-produce bio-based acids.

  • Its technology eliminates pre-treatment steps, reducing costs and energy use.

  • The process is inherently circular and waste-free.

In a world where sustainable value chains increasingly matter, this gives AFYREN a compelling differentiation story.

A European Story About Circular Industry, Not Just Cleantech

AFYREN taps into several major themes that define Europe’s industrial future:

1. Decarbonising Chemical Production

Chemical manufacturing is one of the hardest sectors to decarbonise. AFYREN offers a real, operational pathway.

2. Strengthening Supply-Chain Resilience

A network of regional biorefineries reduces exposure to global shocks and fossil volatility.

3. Turning Waste Streams Into Value

Using agricultural co-products strengthens Europe’s agri-food system and keeps economic value local.

4. Creating Competitive, Circular Materials

Customers increasingly demand low-carbon ingredients — and AFYREN gives Europe a homegrown supply.

Why This Matters for Europe’s Green Industrial Transition

If AFYREN’s model scales, it could demonstrate that circular biorefineries can compete with petrochemical processes on:

  • reliability

  • cost

  • carbon footprint

  • and supply-chain stability

That would be a significant milestone for the European circular economy, the bioeconomy strategy, and the transition to low-carbon materials.

It’s also a reminder that the biggest industrial climate solutions don’t always come from new products — sometimes they come from reinventing how the foundational ingredients of industry are made.

What Comes Next for AFYREN

Key milestones to watch:

  • Can AFYREN NEOXY hit its expanded capacity target smoothly?

  • Will the company announce new long-term supply agreements?

  • Is a second biorefinery — possibly outside Europe — on the horizon?

  • Will competitors accelerate their own circular chemistry strategies?

If AFYREN continues to execute well, it could become one of Europe’s strongest examples of industrial circularity at scale — and a blueprint for the future of sustainable manufacturing.