The Finnish material innovation Spinnova revised its strategy after the withdrawal of its partner Suzano at the beginning of the year. Now the company gives an outlook on the focus for the current and coming year.
The fiber developed by Spinnova can be used in many ways, but the production costs are currently still very high. In order to make the material more attractive for companies, Spinnova plans to significantly reduce costs. At the same time, the fiber should be further developed in order to be used in areas outside the textile industry.
A measure to reduce costs is the merging of the Finnish office and production locations. According to the company, this should enable annual savings of around 500,000 euros.
However, it is clear that Spinnova continues to need partners: inside. The company wants to build an international consortium of companies that help scaling Spinnova technology. So far, specific names have not been mentioned. However, it is known that the joint venture with the Danish shoe manufacturer Ecco should be continued under the name Respin. In this project, leather waste is recycled and new possible uses are tested.
In addition, Spinnova is aiming for complete ownership of several corporate units. These include the former joint venture Woodspin, Suzano Finland and the Woodspin Demofabrik
Spinnova and Suzano have been working as part of the Woodspin joint venture since 2020. The aim was to produce wood -based fibers on an industrial scale. In March of this year it became known that Suzano decided against further investments in the partnership. The Brazilian company cited the Brazilian company a strategic realignment of priorities and capital allocation, but not a lack of trust in Spinnova’s technology.
This article was used with digital tools translated.
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