The €3.4 million (US$3.8 million) payment is the third installment of a €20 million grant from the Circular Bio-based Europe Joint Undertaking, a public-private partnership of the European Union of the Framework Programme for Research and Innovation. The 12 European project partners in AFTER-BIOCHEM include AFYREN NEOXY, PNO, Sphera, Terrial, Celanese, Südzucker, Firmenich, SUEZ, Kemin, Technip Energies, Fiabila, and Bioeconomy for Change.
The AFTER-BIOCHEM project will continue with a particular focus on plant performance during production phase, including life cycle analysis and product performance analysis with end-user partners. Further developments such as plant replication and new products projects will also be assessed.
AFYREN NEOXY is expected to start continuous production of its biobased acids in 2024 and reach financial breakeven in 2025.