AFYREN lists on Euronext Growth Paris

€66.5 million raised
Market capitalisation of €206 million
Greentech and French Tech 120 company
Alumni of TechShare, Euronext’s pre-IPO programme

Paris – 01 October 2021 – Euronext today congratulates AFYREN, a Greentech sustainable chemistry company, on its listing on Euronext Growth (ticker code: ALAFY).

AFYREN takes a low-carbon, circular-economy approach to offer its industrial customers innovative solutions to replace petroleum-based ingredients with products derived from non-food biomass. AFYREN's Initial Public Offering (IPO) aims to accelerate the industrialisation of its processes on a global scale in order to pursue its sustainable growth strategy, foster the circular economy and contribute to the emergence of a low-carbon world.

AFYREN was listed through the admission to trading on 1 October of the 25,762,024 shares making up its equity and of 8,286,359 new shares issued under a Global Offering[1], after partial exercise of the extension option and before the potential exercice of the over-allotment option.

The admission and issue price of AFYREN shares was set at €8.02 per share. Market capitalisation was €206 million on the day of listing. The offering raised €66.5 million altogether.

Nicolas Sordet, Chief Executive Officer and cofounder of AFYREN, said: “We are very proud to join Euronext Paris, which has allowed us to broaden our shareholder base to include both individual shareholders and large institutional players. This listing is an important milestone for AFYREN's development in the production of natural and low-carbon products. The success of the operation also relied on the support of major investors, both new and historic, who showed their interest with subscription commitments of up to €35 million even before the IPO was launched: Mirova, Bpifrance, Sofinnova Industrial Biotech and CACFdeveloppement.”

Micheal Krel, Partner of the venture capital firm Sofinnova Partners and administrator of AFYREN: "We are proud to have accompanied AFYREN in its development, from when it was a young, innovative start-up to today as it enters its industrial phase, with additional resources to deploy its range of biosourced products across multiple continents.”

Caption: Nicolas Sordet, Chief Executive Officer of AFYREN, and his team rang the bell in presence Guillaume Morelli, Director Listing SME France at Euronext, during a ceremony this morning to celebrate the Initial Public Offering of the company.

About AFYREN

To meet manufacturers' growing need to combat global warming and reduce the use of petroleum derivatives in their production chain, AFYREN produces biomolecules derived from the recycling of non-food biomass, widely used in human and animal nutrition, flavours and fragrances, life sciences, materials sciences and lubricants sectors. This production of renewable carbon, which is resolutely part of a circular economy, is carried out using fermentative technologies patented worldwide, the result of 10 years of research. Founded in 2012 and managed by Nicolas Sordet and Jérémy Pessiot, AFYREN employs 33 people (as of year-end 2020) at its sites in Lyon, Clermont-Ferrand and Carling - Saint Avold. AFYREN is the winner of the 2030 Global Innovation Contest in the "Plant proteins and plant chemistry" category and was selected in the French Tech120 in January 2020 and 2021. In 2018, AFYREN embarked on the implementation of its industrial project with the creation of a joint venture with Bpifrance's SPI fund: AFYREN NEOXY. AFYREN NEOXY is dedicated to the first industrial production of AFYREN natural organic acids in the Grand Est region. or more information: afyren.com

[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.