AFYREN NEOXY Signs Deal With Excellentia for Distribution in Key North American Flavors and Fragrances Market
09 November 2022 - 5:45PM
Business Wire
- Excellentia will distribute the FLAVYREN™ line to the major
North American players in the flavors and fragrances
market
- The deal covers the full suite of FLAVYREN™ natural organic
acids produced by AFYREN NEOXY
- North America is the No. 2 global market for flavors and
fragrances, with growth estimated at more than 6%1
Regulatory News:
AFYREN (Paris:ALAFY), a greentech company that offers
manufacturers bio-based, low-carbon products made using technology
based on natural micro-organisms, today announced that it has
signed a North American distribution agreement with Excellentia, a
leading player in the supply of natural ingredients to the flavors
and fragrances market. Excellentia will distribute the full range
of FLAVYREN™ natural acids2 produced by AFYREN NEOXY, AFYREN’s
first factory.
The organic acids AFYREN NEOXY produces using agricultural
co-products as feedstock are identical (drop-in molecules) to
ingredients produced using petroleum derivatives, so they can be
directly substituted without changing customers’ production
methods.
AFYREN’s patented process is biomimetic, reproducing on an
industrial scale a fermentation process that has been occurring in
nature for millions of years. The process is using natural
microorganisms and is fully circular. It was developed using a
“zero industrial waste” approach: water is fully recycled, and the
co-product that is left over from the process is used as a
potassium-rich organic fertilizer, completing the circular
process.
“This agreement will help AFYREN better serve the major players
in a market that is growing and increasingly turning to natural
products,” said Nicolas Sordet, chief executive of AFYREN.
“Excellentia is at the nerve center of the North American flavors
and fragrances market and is well established and known for its
distribution capabilities and its expertise in using high quality,
natural ingredients like ours.”
The global market for natural flavors and fragrances was worth
$9.15 billion in 2021 and is expected to grow at an annual rate of
more than 6 percent from 2022-2029, according to a report from
Quadintel.3
“Excellentia’s primary focus on pure, natural, clean-label &
organic flavor & fragrance ingredients will be greatly enhanced
by the unique FLAVYRENTM Product line”, said Tom Buco, President of
Excellentia. “In addition, our manufacturing and product
development expertise will enable us to provide customized
solutions to our clients taste and aroma challenges. We are very
excited about this affiliation and look forward to many years of
mutual prosperity.”
This agreement on the American market highlights the strong
global demand for bio-based solutions and confirms the validity of
AFYREN's strategy to further develop internationally in order to
better serve its customers in their markets.
About AFYREN
Founded in 2012 to meet the growing need of industries to reduce
the use of petroleum derivatives in their production chain, AFYREN
produces biomolecules derived from the reuse of non-food biomass.
These ingredients are widely used in human and animal nutrition,
flavors and fragrances, cosmetics, and fine chemicals. This
production process replicates the exact properties of equivalent
petro-sourced molecules, largely used in the human and animal
nutrition, cosmetics, flavors and fragrances and fine chemicals
sectors.
By offering natural alternatives to these strategic markets,
AFYREN is engaged in a low-carbon economy and proposes a truly
circular approach with the use of local biomass and the choice of a
strategic location, as close as possible to its customers.
Resulting from 10 years of research, AFYREN's disruptive
innovation won the 2030 Global Innovation Contest in the "Plant
proteins and plant chemistry" category and was selected in the
French Tech 120 in 2020 and 2021.
In 2018, AFYREN committed to its industrial project by creating
the AFYREN NEOXY joint venture with Bpifrance’s SPI fund. AFYREN
NEOXY is dedicated to the first industrial production of AFYREN
natural organic acids in the Grand Est region.
In 2022, the AFYREN NEOXY factory opened its doors. AFYREN and
AFYREN NEOXY now employ nearly 100 people at their sites in Lyon,
Clermont-Ferrand and Carling Saint-Avold.
In 2021, AFYREN listed on Euronext Growth® exchange in Paris,
raising a total amount of 70.4 million euros with the objective of
accelerating its industrial development (ISIN code: FR0014005AC9,
ticker: ALAFY).
For more information: afyren.com
_____________________________ 1
https://www.grandviewresearch.com/industry-analysis/natural-flavors-fragrances-market-report
2 NATURAL : FLAVYRENTM is considered as a 'Natural flavouring
substance' according to (EC) No 1334/2008, Article 3,2.c; US
NATURAL : FLAVYRENTM is considered as NATURAL FLAVOURING according
to « the United States Federal Food, Drug, and Cosmetic Act »,
Titre 21, Section 101.22 (a) (3). 3
https://www.quadintel.com/report/global-natural-flavors-and-fragrances-market/3-5-1027
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AFYREN Communication Caroline Petigny
contact@afyren.com Relations Investisseurs Mark Reinhard
investisseurs@afyren.com Investor Relations NewCap
Théo Martin / Mathilde Bohin Tel: +33 1 44 71 94 94
afyren@newcap.eu Press relations Bogert-Magnier
Communications James Connell Tel: +33 6 2152 1755
jim@bogert-magnier.com
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