Spinnova’s new strategy: Cost savings, lower fibre price and factory acquisition

Finnish material innovation company Spinnova (Spinnova) was forced to revise its strategy earlier this year following the withdrawal of its partner, Brazilian pulp and paper producer Suzano. Spinnova has now revealed its primary focus for 2025 and 2026.

Spinnova’s fibre can be used in many types of materials, but production costs remain high. By lowering these costs, the material should become more attractive for businesses to use. In addition, Spinnova aims to further improve the fibre so it can be applied outside of the textile industry.

A further cost-saving measure is the consolidation of Spinnova’s offices and production sites in Finland. According to the company’s press release, this should result in annual savings of 500,000 euros.

However, it is clear that Spinnova will continue to need partners. The company wants to build an international consortium of businesses to help scale up its technology. However, Spinnova has not yet named any potential partners. What it has mentioned is its intention to continue with its joint venture with Danish footwear brand Ecco. This joint venture, called Respin, uses leather waste and seeks new applications for it.

Finally, Spinnova aims to become the sole owner of Woodspin, Suzano Finland and the Woodspin demo factory. Spinnova and Suzano had been joint venture partners in Woodspin since 2020. This was a production facility for Spinnova’s wood-based fibres.

In March, it was announced that Suzano had decided not to invest further in the collaboration with Spinnova. This was not due to a lack of confidence in Spinnova’s technology, but rather a realignment of priorities and capital allocation.