Spinnova Plc: Change in Spinnova Board of Directors

SPINNOVA PLC, COMPANY RELEASE, 21 September 2022 at 11:00 a.m. EEST

Spinnova Plc: Change in Spinnova Board of Directors

Timo Soininen has decided to step down from his role as a member of Spinnova’s Board of Directors to allocate more time for his other roles and commitments. The change will take effect as of 30 September 2022.

Soininen is a founding partner of Spinnova and has been a board member since the founding of the company in 2014.

Janne Poranen, Chair of the Spinnova Board of Directors, comments “We want to thank Timo for his significant contribution and support in building the inspiring vision of Spinnova and growing the company from an early stage startup to a listed company. The company would not be where it is without Timo’s exceptional work. On a personal note, I would like to thank Timo for our excellent collaboration during the years.”

Timo Soininen comments:

“After 8 active years of service in supporting Janne Poranen and Juha Salmela and helping Spinnova to grow, it is now a good time for me to leave my Board role at Spinnova to free my time to focus on my other roles and commitments. With our new CEO Kim Poulsen steadily at the helm, I am confident that Spinnova will stay on course to reach our vision of becoming the company that will transform the raw material base of the entire textile industry for better.

I am truly honored to have been part of this amazing journey and will continue to follow and support the growth story as a shareholder.”

Spinnova Plc

For further information, please contact:

Janne Poranen, Chair of Board of Directors
Tel. +358 20 703 2430


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

Nasdaq Helsinki
Key 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 waste and 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.

SPINNOVA® home: www.spinnova.com
Corporate & IR site: www.spinnovagroup.com