Spinnova and Fashion for Good Collaborate to Accelerate Eco-Friendly Fiber Advancements

Spinnova accelerates in the final stretch of the year. The Finnish fiber manufacturer has received support from the Fashion for Good platform to boost the availability of the company’s sustainable fiber in the textile materials market, as well as to build Spinnova’s infrastructure.

The agreement involves the commercialization of textile materials with Spinnova’s sustainable fibers, with the aim of building a multi-sector consortium, where Fashion for Good “will play a key role in the development and management of the ecosystem,“ said Pedro Brito, Spinnova’s commercial director.

“It’s not just about proving that the technology works, but building the infrastructure and capacity along the value chain that will make its adoption viable,“ said Katrin Ley, CEO of Fashion for Good, in a statement.

Spinnova closed the previous fiscal year with a plunge of up to 92.8% in sales compared to the 2023 course

Spinnova strengthened positions in its own business last August, when it acquired all the shares of its partner, Suzano, and their joint venture, Woodspin, for €2 in total, gaining full ownership of both companies.

As a result, the joint venture agreement between Spinnova and Suzano was terminated, allowing the Finnish company to license the technology contributed by Suzano freely.

The fiber manufacturer ended the 2024 financial year with a slump in sales. The company ended the period with a turnover of €762,000, which translates into 92.8% less than Spinnova’s turnover of €10.6 million in the previous year.