Spinnova Plc has signed binding agreements to acquire all shares in Woodspin Oy and Suzano Finland Oy from Suzano S.A., securing full ownership of the joint venture entities and exclusivity rights on wood-based fibre technology.
The transactions, valued at a symbolic EUR 2, transfer to Spinnova full control of Woodspin, the exclusive producer and distributor of SPINNOVA® fibre, as well as Suzano Finland, the raw material provider. Suzano will also inject a capital contribution of EUR 5 million into the two entities prior to closing, expected within the coming weeks.
As part of the agreements, the joint venture between Spinnova and Suzano will be terminated. This move grants Spinnova the freedom to license its fibre technology independently. The company will also gain full ownership of Woodspin’s large demo facility, equipped to produce SPINNOVA® fibre from pulp to bale.
Operations at Woodspin are currently suspended while Spinnova evaluates alternatives for future activity. The company confirmed that the agreements will not immediately affect cash flow, though an impairment loss on Woodspin has already been recognised and will weigh on its 2025 financial results.
Spinnova has not issued financial guidance for 2025 but will provide further details in its half-year report scheduled for publication on August 28, 2025.
Founded in Finland, Spinnova has developed patented technology to produce textile fibres from wood pulp and waste materials without harmful chemicals, offering a low-emission, recyclable, and biodegradable alternative to conventional fibres. Its shares are listed on the Nasdaq First North Growth Market Finland.
