Government grant will help fund Spinnova expansion project
Specialist renewable fibres developer Spinnova is to receive a grant of €1.9 million from Business Finland.
Part of the Nordic country’s ministry of employment and the economy, Business Finland is providing the funding to support Spinnova’s research work for the 2023-2035 period.
Specifically, Spinnova will use the money to help fund an expanded product development project at its pilot-scale production plant for Spinnova fibre. The grant will cover half of the project’s total estimated cost.
This project aims to expand Spinnova’s technology offering by adding new refining and fibre recycling components, which will be able to use textile and agricultural waste streams for the production of Spinnova fibre.
The company said this would open new strategic opportunities for it to expand its business. It added that improvements to the refining process for the raw materials for the fibre, making this more energy-efficient, would, in turn, improve the competitiveness of the fibre.
“Business Finland’s grant supports our development work to become even more sustainable and competitive by being able to offer technology that can process multiple, circular raw materials into textile fibre”, said chief technology officer and co-founder, Juha Salmela.
