Spinnova news and archive

Tommy Hilfiger joins Spinnova consortium

US premium brand Tommy Hilfiger has become the newest partner of Spinnova, a Finnish fibre tech firm backed by Fashion for Good. The company has joined Spinnova’s consortium, a model the firm introduced earlier this year to encourage fashion brands to back efforts in scaling its flagship fibre offering. Aptly dubbed Spinnova, the textile is made...

Member

Business

Fashion for Good endorses Spinnova’s consortium model

Finnish fibre tech firm Spinnova has found allyship in Fashion for Good, an accelerator and collaboration platform hoping to help contribute to the establishment of an industry ecosystem to scale textile innovation. Fashion for Good’s involvement follows the introduction of Spinnova’s revised strategy earlier this year. The Finland-based firm...

Member

Business

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...

Member

Business

Spinnova buys out Suzano, takes ownership of Woodspin

Finnish material innovation firm Spinnova has entered an agreement to buy all the shares of distributor Woodspin Oy and raw materials provider Suzano Finland Oy for a total of two euros per share. The agreement will transfer ownership of the two companies from Brazilian company Suzano S.A. to Spinnova, which will also make a capital contribution...

Member

Business

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...

Member

Business

Fashion and technology sectors join forces for traceability in fashion

More and more fashion brands are joining forces with technology companies for the arrival of the Digital Product Passport (DPP). This digital passport should give consumers and producers insight into where a product comes from, how it is made and what the circular options are (how it can be reused or repaired). According to the latest...

Member

Business

Spinnova cuts jobs and changes management team in restructuring

Finnish textile technology company Spinnova Plc, known for its collaborations with Adidas, Marimekko, and Icebreaker, among others, has announced a major restructuring. Due to disappointing results and high costs, the company aims to "adapt its organisational structure to the current development phase and changed market conditions," according to...

People

Spinnova founder returns to CEO role

In light of recent turmoil, the Finnish textile technology company Spinnova Plc has appointed a familiar face as its new CEO. Founder Janne Poranen will return to leading operations with immediate effect, the company, which specialises in sustainable fibre production processes, announced on Thursday. Due to the current "extraordinary...

Member

Business

Spinnova revises strategy after Suzano no longer wants to invest

Spinnova is going back to the drawing board to rethink its strategy after Suzano decided not to invest in the next phase of their partnership. The Brazilian wood pulp giant said this decision was based on a realignment of priorities and capital allocation, rather than a lack of confidence in Spinnova technology, according to its annual report....

People

CEO Spinnova announces departure after short period of time

Tuomas Oijala, CEO of Spinnova Plc, will step down from his position, with his last day of employment no later than September 12, 2025. Spinnova announced this in a press release. Oijala will remain in his role during his six-month notice period, focusing on continuing the current strategy and ensuring a smooth transition. Oijala joined Spinnova...

Member

Business

Suzano stops financing Woodspin, remains shareholder of Spinnova

Suzano, the Brazilian cellulose producer and investor of Spinnova's Woodspin plant that produces wood-based fibres, will not invest further in the next phase of its cooperation with the Finnish textile innovator and will temporarily stop financing the plant. Both companies are starting a strategic review of Woodspin and will renegotiate the...

Member

Business

Thanks to cost-cutting measures: Spinnova significantly reduces annual loss

Finnish textile technology company Spinnova Plc significantly reduced its losses in fiscal year 2024. The company, which specializes in sustainable fiber production processes, benefited from a strategic shift in its business model and comprehensive cost-cutting measures. According to the annual report published on Thursday, the operating loss,...