Spinnova takes full ownership of Woodspin and Suzano Finland

Spinnova Plc has successfully completed the acquisition of Woodspin and Suzano Finland from Suzano S.A. for a total purchase price of just two euros. The transaction, which was initially announced in August 2025 and concluded on October 3, 2025, grants Spinnova full ownership of both the exclusive producer and distributor of wood-based Spinnova fibre, Woodspin, and the raw material provider, Suzano Finland.

This strategic move, which terminates the joint venture agreement with Suzano, was subject to customary closing conditions and allows Spinnova to license its technology freely. According to the prior agreement, Suzano also committed to making a capital contribution of 5 million euros to the acquired companies. Spinnova also gets full ownership of the only large demo facility, with the needed infrastructure and utilities in place to produce Spinnova fibre from pulp to bale.

Woodspin and Suzano Finland will now be included in the Spinnova Group's reporting starting October 3, 2025. However, operations at Woodspin have ceased until further notice while the company seeks alternatives for continued operations.