(CercleFinance.com) – Afyren announces today that Afyren Neoxy has received a payment of 3.4 million euros, in recognition of the industrial milestones achieved.
This grant, recognized in Afyren Neoxy’s 2023 accounts, is the third tranche of a total funding of 20 million euros awarded by the Circular Bio-based Europe Joint Undertaking (CBE JU1), a partnership placed under the aegis of the European Union dedicated to financing projects advancing bio-based industries.
This funding was granted in 2020 to a consortium of 12 partners, called After-Biochem and led by Afyren Neoxy. This consortium is driven by a common objective: to create sustainable value chains from renewable and non-food raw materials and to supply biosourced chemical components on an industrial scale.
With this recent payment, CBE JU’s total contribution to the After-Biochem program reached 16 million euros over 4 years, 90% of which was directly invested for the benefit of Afyren Neoxy.
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