2023
ANNUAL ReportDownload here
Spinnova in brief
SPINNOVA. FOR ALL THAT MATTERS.
We are on a mission to transform the raw material base of the global textile ecosystem with our technology. We innovate and engineer the most sustainable textile fibre in the world, and we do this for the benefit of the planet, because that is what matters most.
2023 was the year of finalizing the successful technology delivery to Woodspin
Woodspin is Spinnova’s and the world’s largest pulp producer Suzano’s joint venture. In May 2023, Woodspin’s factory in Jyväskylä, Finland celebrated its official opening. Read more from Annual Review page 7.
Introducing Spinnova’s CEO Tuomas Oijala
Spinnova’s new CEO Tuomas Oijala was appointed in August, and started in December. Read the introduction of Tuomas Oijala from the Annual Review page 10.
The textile fibre market needs natural fibre alternatives
Spinnova’s technology addresses the global textile fibre market, which size was approximately 116 million tonnes in 2022, up from 112 million tonnes in 2021. Read more about our market and the market opportunity on Annual Review page 14.
Spinnova’s updated strategy focuses on technology sales
Spinnova published its updated strategy and strategy targets on 14 March 2024. Spinnova’s business is driven by the megatrends: Natural fibre gap, climate crisis and waste problem and lack of recycling. Spinnova focuses on selling its unique SPINNOVA® fibre production technology. Read more on Annual Review page 16.
Spinnova unveiled sustainable denim at Kingpins trade show
Spinnova presented the first blended denim fabrics made with SPINNOVA® fibre and cotton at the Kingpins denim trade show in Amsterdam in October 2023. Read more on Annual Review page 25.
Sustainability
Spinnova’s sustainability approach
Key themes
Passionately innovative
Groundbreaking innovation is in the DNA of the company. We test and learn to ensure the biggest possible impact.
Climate champion
Spinnova is a pro-climate company: from raw materials and production to the behaviour we encourage in all our stakeholders. Our technology enables textile fibre production with low carbon emissions and climate benefits.
Naturally circular
Spinnova applies circular principles that go way beyond recycling – both in own operations and value chain. We encourage our partners to join us in the transition to a circular economy.
Fundamentals
Ethics & integrity
Business ethics and compliance
People
Occupational health and safety, employee wellbeing and development, as well as local communities.
Value chain
Responsible value chain, biodiversity and land use, as well as product safety and quality.