Afyren: production starts, deliveries follow
The greentech company reports that operations at its Carling-Saint Avold site, which have been underway for several weeks, have already produced several tons of product.
This is the world's first plant for the industrial-scale production of biobased carboxylic acids from sugar beet co-products.
The company plans to start continuous production in autumn 2023, before gradually ramping up volumes to produce 16.000 tonnes of carboxylic acids per year at full capacity.
As a reminder, Afyren has commercial commitments for 75% of annual production for acids and 100% for fertilizers.
These contracts represent total cumulative sales of over 165 million euros, to be recognized over the coming years.
Afyren specifies that, with a target current production EBITDA margin of 25% for the plant, the site christened 'Afuren Neoxy' should reach breakeven (positive current production EBITDA margin) by the end of 2023.
Following these announcements, Afyren shares climbed over 4% on the Paris Bourse, after having gained up to 8% earlier in the morning.
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