With new growth capital of 11 million euros, the sustainable fibre technology company Spinnova is starting the commercialization phase of the world’s most sustainable textile fibre. The company aims to revolutionize the raw material base of the textile industry with its cellulose-based fibre products in collaboration with major textile brands. Spinnova is a Finnish, sustainable deeptech company that has developed a disruptive technology for manufacturing cellulose-based textile fibres. Spinnova’s patented method includes 0% harmful chemicals and 0% waste or side streams, making the fibre and the production the most sustainable in the world. Spinnova is beginning to plan for its commercial phase after passing its most important milestone so far; getting proof of concept from its pilot factory. The pilot line was completed in Finland last December and ramped up over early 2019. Now fully operational, the pilot is producing fibre for Spinnova’s brand partners, while Spinnova scales towards a commercial facility.
The 11 million € total investment came entirely from Spinnova’s existing investors; family investment offices, private investors, a venture capital investment fund and industrial partners. There has been a significant amount of brand interest towards Spinnova’s innovation. The fibre recently passed industrial spinning tests, which was an important step of the fibre’s journey towards a commercially viable drop-in material. Following close collaboration with piloting brands, several demo products will be introduced to consumers in the near future.
