AFYREN’s Shareholders Approve the Resolutions Proposed at 2023 Annual General Meeting

72,45% of the Company’s share capital was represented at the AGM, and resolutions were approved by large margins

CLERMONT-FERRAND, France & LYON, France--(BUSINESS WIRE)--Regulatory News:

AFYREN (Paris:ALAFY), a greentech company that offers manufacturers bio-based, low-carbon ingredients produced using unique fermentation technology based on a completely circular model, today announces that its shareholders have approved the resolutions proposed at the Annual Ordinary and Extraordinary General Meeting held on June 21, 2023.

On first call, the necessary quorum was largely reached, the voting shareholders representing 72,45% of the share capital and 71,43% of voting rights. All resolutions were approved, with detailed results available on the AFYREN Investors website.

AFYREN thanks all the shareholders who took part in the vote.

Stefan BORGAS, Chairman of the Board of Directors of AFYREN, stated: "In 2022, AFYREN successfully implemented the roadmap presented at the time of its IPO, culminating in the inauguration of its first plant, AFYREN NEOXY, in eastern France. In parallel, the Group began its international expansion with the launch of a joint venture project with Mithr Pol, Asia’s largest sugar producer, to set up a second industrial unit in Thailand. The groundwork has therefore been laid for AFYREN to pursue its development and achieve its first sales this year, at a time when awareness of the urgent need to make the transition to a low-carbon world is fuelling very strong demand for biobased products".

About AFYREN

Founded in 2012 to address manufacturers’ growing need to reduce the carbon footprint of their inputs and move towards more natural ingredients, AFYREN manufactures biobased products to replace petroleum-derived molecules. With its innovative, unique, and proprietary process, the French greentech company offers low-carbon, bio-based alternatives in the following sectors: human and animal nutrition, cosmetics, flavors and fragrances, and fine chemicals. By valorizing local, non-food biomass, AFYREN helps manufacturers offer more sustainable finished products while remaining competitive.

The company is pursuing an ambitious development plan to better serve its international customers. Its first plant, AFYREN NEOXY, a joint venture with Bpifrance's SPI fund, is located in France, primarily to serve the European market. In early 2023, AFYREN announced the launch of a factory project in Thailand, partnering with a world leader in the sugar industry. AFYREN is also expanding its presence on the American continent, in line with distribution agreements already signed.

By 2023, AFYREN employed more than 110 people in Lyon, Clermont-Ferrand & Carling Saint-Avold; the company invests 20% of its budget in R&D every year.

AFYREN has been listed on Euronext Growth^® in Paris since 2021 (ISIN code: FR0014005AC9, ticker: ALAFY).