Inside information: Spinnova updates its strategy and targets – focus on technology sales


Inside information: Spinnova updates its strategy and targets – focus on technology sales


Spinnova updates its strategy and will prioritise focus areas and activities that in the short- to medium-term are expected to deliver the fastest time to positive cashflow generation and that are expected to create the most value for the company’s stakeholders.


Updated strategy


Technology sales

Spinnova focuses on technology sales and delivering the technology together with its partners, which is expected to be the fastest way to ramping up production capacity of SPINNOVA® fibre. Technology sales will be targeted at where it creates the most value, with upstream raw material partners or downstream textile manufacturers. The value of the Spinnova technology to technology sales customers will be magnified by a strong focus on technology development and adoption of the fibre in the textile industry.


Technology development

Spinnova continues its development efforts on advancing the use of various raw materials while reducing production cost and CAPEX per tonne.


Fibre market development

Spinnova continues to see a clear market need for new natural feeling and sustainable fibres and is confident its technology can offer a solution. SPINNOVA® fibre is a novel fibre which we are developing into a mass-market product. Spinnova will participate in market development to promote fibre adoption in the value chain together with retail brands and their supply chain partners. Spinnova has an ingredient brand strategy whereby Spinnova manages the visibility of the SPINNOVA® logo in the end products using SPINNOVA® fibre, creating value for Spinnova’s technology customers.


Focus on cash generation

Spinnova’s updated strategy aims to lead to positive cash flows and EBIT without the need for additional funding. The cash runway is expected to be lengthened through a cost-savings program, including aligning the organization to ensure effective strategy execution.


Spinnova’s updated strategy is already being implemented through the Letter of Intent (LOI) signed together with Suzano, regarding the plans of the next wood-based production factory. According to the LOI, Suzano plans on owning and operating the next wood-based fibre production factory on its own site. Spinnova will provide the technology together with its partners to Suzano. The opportunity to invest in future plants remains at Spinnova’s discretion.


Our ambition to scale SPINNOVA® fibre to 1 million tonnes of annual production capacity remains.


In 2024, Spinnova’s focus areas and priorities are:



Updated strategy targets




Short term


Medium term


Long term


Cumulative technology sales*

30k tonnes

130k tonnes

450k tonnes


No additional external financing required


EBIT positive

More than EUR 100 million EBIT per year


More than 30% of revenues recurring**


*Total cumulative annual fibre production capacity committed to be built by Spinnova technology customers or by Spinnova through own investments

** Royalty and service fees


As Spinnova is implementing its technology sales strategy and does not plan to make its own investment into fibre production in the short to medium term, Spinnova does not expect to need additional external financing in order to reach its strategy targets.


Upside potential to Spinnova’s strategy targets is expected to be driven by acceleration of the timing of investment decisions for new plants by our technology customers, increased adoption of sustainable materials by consumers and brands, further regulation of raw materials in the textile industry and faster than anticipated ramp up of alternative raw material pulp suppliers.


Downside potential to Spinnova’s strategy targets may include potential delays to investment decisions by our technology customers, potential delays to delivery of our technology projects to customers, slower than anticipated development of reductions in capex or opex per tonne of Spinnova’s technology, and slower than expected development of SPINNOVA® fibre properties which would reduce the size of the addressable fibre market for our technology customers.


Spinnova will present the updated strategy and targets in its Capital Markets Day on 14 March 2024 at 14-approx. 17 (EET).


The Capital Markets Day can be watched through a webcast:

Spinnova Plc

For further information, please contact:
Tuomas Oijala, CEO

Virva Vesanen, Head of Investor Relations
Tel. +358 20 703 2430

Certified advisor:
Aktia Alexander Corporate Finance Oy
Tel. +358 50 520 4098

Nasdaq Helsinki
Major media

SPINNOVA – Sustainable textile materials, naturally

Spinnova transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed breakthrough patented technology for making textile fibre out of wood or waste, such as leather, textile or agricultural waste, without harmful chemicals.

The SPINNOVA® fibre creates zero side streams or microplastics, and its CO2 emissions and water use are minimal. SPINNOVA® materials are quickly biodegradable and circular. Spinnova is committed to using only sustainable raw materials such as FSC certified wood and waste. SPINNOVA® fibre is produced without harmful or complex chemical processes, and has the touch and feel of natural fibres such as cotton and linen.

Spinnova has received awards from e.g. the Fast Company, ISPO, Scandinavian Outdoor, ANDAM, Monocle and Marie Claire UK.

Spinnova’s shares (SPINN) are listed on the Nasdaq First North Growth Market Finland.

Corporate & IR site: