Sofinnova et al. invest €20m in Afyren

A group of French backers, including new investors Crédit Agricole Creation, Crédit Agricole Centre France and Supernova, as well as historical backers AFY Partners and Sofimac Regions, also took part in the round.

The company disclosed its intention to raise an additional €40m of debt. Raising €60m in total will allow the business to implement its industrial development and the commercialisation of its products in 2020, according to a statement.

Company
Founded in 2012, the company proposes a sustainable alternative to the use of petroleum and food biomass.

Afyren specialises in microbiology and bioprocess engineering to valorise non-food biomass into bioenergy and green chemistry. The company claims to operate in a sustainable and environment-friendly process, with the use of fully natural micro-organisms and the return-to-earth of fermentation residues.

Based in Saint-Beauzire, Afyren employs 15 people.

People
Afyren - Regis Nouaille, Jeremy Pessiot (founders).

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• Topics
• Expansion
• France
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• France
• Sofinnova
• Cleantech