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The French biobased chemical firm Afyren has raised $24 million in a funding round led by Sofinnova Partners and Valquest Partners, bringing its total funding to roughly $65 million. The company will use the money to build a biobased organic acid plant that will use waste agricultural biomass as a feedstock. Afyren says it produces building-block molecules via fermentation with non-GMO microbes, then uses chemistry to create higher-value chemicals.
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