Finnish biomaterials company Spinnova has reported full-year revenues of almost €24.3 million for 2022, an increase of more than 300% year on year.

During the year, Spinnova completed the construction of a first factory for its Woodspin product, which is a textile fibre from cellulose derived from wood pulp. The factory began producing fibre in February 2023. It expects to complete the construction of a second Woodspin factory, with its partner Suzano, in 2024.

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