AFYREN Confirms Drawdown of €7 Million in Previously Secured Financing for its Subsidiary AFYREN NEOXY

• Release of second tranche of loans secured at the end of 2024:
  • €4 million in the form of a Sustainability-linked loan¹, marking the renewed confidence of the five banks in the banking syndicate
  • €3 million under the “Prêt Nouvelle Industrie” loan (Bpifrance), aimed at financing the industrialization of an innovative technology
• AFYREN's cash position was around €35 million as of December 31, 2025

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

AFYREN (Paris:ALAFY), a greentech company offering manufacturers biobased, low-carbon ingredients through a unique fermentation technology based on a circular model, announces it has received €7 million in additional financing for its subsidiary AFYREN NEOXY. This was obtained through the release of the second tranche of the Sustainability-linked loan secured in December 2024 and the New Industry Loan obtained in November 2024. AFYREN reports a cash position of approximately €35 million as of year-end 2025.

Nicolas SORDET, Chief Executive Officer of AFYREN, stated: “The ramp-up period is a key stage in any industrialization process: it requires mobilizing significant resources for an asset that has not yet reached full capacity. It is therefore crucial to anticipate and secure the necessary financing to navigate this phase with confidence. To achieve this, we rely on a balanced mix of grants, debt, and equity, ensuring the strength of our financial structure. This announcement is also an opportunity to reaffirm our appreciation for our financial partners —banks, institutional partners, institutions providing innovation funding, and shareholders— who have supported us since our inception.”

Sustainability-linked loan

In December 2024, AFYREN secured a €10 million Sustainability-linked loan to support the start-up and ramp-up of the AFYREN NEOXY plant, with €6 million disbursed immediately.

Today, AFYREN is pleased to announce the release of the additional €4 million tranche and the renewed support of the banking syndicate comprising long-term partners BNP Paribas² and Banque Populaire Auvergne Rhône-Alpes, plus new partners Société Générale, Caisse d' Épargne et de Prévoyance Rhône-Alpes and LCL.

As with the first tranche, this financing will link the cost of credit to AFYREN’s ESG performance, particularly in the social dimension, ESG rating, and then the company’s environmental impact—a pioneering approach for a young industrial company.

“Prêt Nouvelle Industrie” loan

In November 2024, AFYREN obtained financing in the form of a “New Industry Loan” (Prêt Nouvelle Industrie) of €9 million, with an initial €6 million tranche disbursed immediately.

Today, AFYREN announces the release of the additional €3 million tranche for AFYREN NEOXY, under the same terms: a total duration of 15 years, including a 3-year grace period.

This financing is part of a Bpifrance scheme developed under the France 2030 Plan to fund the industrialization of innovative technology.

Strong cash position of parent company AFYREN

These new financings complement a €4 million grant awarded to AFYREN NEOXY in the first half of 2025, as part of the Bpifrance France Relance plan call for projects, which aims to support strategic investments in critical sectors—a program AFYREN has benefited from since June 2021. In total, for the year 2025, AFYREN NEOXY secured €11 million in non-dilutive financing.

As of December 31, 2025, AFYREN’s parent company has an estimated cash position of around €35 million, compared to €33.5 million as of December 31, 2024.

This change reflects:

• annual cash consumption below €7 million at the parent company level
• support for AFYREN NEOXY totaling €15 million, provided in the form of a shareholder loan to support the plant’s ramp-up and ongoing investment
• €23 million in equity raised during the November 2025 capital increase, from industrial partner Kemin Industries Inc. and strategic investor Bpifrance Large Venture.

About AFYREN

AFYREN is a French greentech company, founded in 2012, focused on providing innovative, sustainable solutions to reduce reliance on fossil-based resources. AFYREN’s proprietary, nature-inspired fermentation technology valorizes local biomass from non-food agricultural co-products to produce 100% biobased, low-carbon carboxylic acids. The company’s sustainable solutions address decarbonization challenges in a wide variety of strategic sectors, including human and animal nutrition, flavors and fragrances, life sciences, materials science, plus lubricants and technical fluids. AFYREN’s competitive, plug-and-play, circular technology enables manufacturers to adopt sustainable solutions without modifying production processes.

The company’s first industrial plant, AFYREN NEOXY, a joint venture with Bpifrance's SPI fund, is based in the Grand-Est region of France, serving primarily the European market. AFYREN is also pursuing a project in Thailand with a global leader in the sugar industry and is building its presence in the Americas, based on existing distribution agreements.

At the end of 2025, AFYREN employed 130 people across sites in Lyon, Clermont-Ferrand and Carling Saint-Avold. Committed to continuous innovation, the company invests 20% of its annual budget in R&D to further develop the range of sustainable solutions.

AFYREN is listed on Euronext Growth® Paris since 2021 (ISIN code: FR0014005AC9, ticker: ALAFY).

For more information, visit www.afyren.com and follow us on LinkedIn

¹ Financing related to company’s sustainable development efforts

² Lead bank and ESG coordinator