Brazilian partner decides not to invest in next steps with Spinnova
Fibre developer Spinnova has announced that its partnership with Brazilian wood-pulp group Suzano will not continue.
In March 2024, Spinnova said it was preparing to deliver its technology, which uses fibre suspension flows to make cellulose fibres for textiles from renewable materials, to Suzano. The companies began talking about this in 2021, calling their joint venture Woodspin.
The plan was that Suzano would develop, own and operate a new production facility in Brazil for the production of Spinnova fibres, with the capacity to make 20,000 tonnes per year. However, in November 2024, the companies announced a delay to this project.
Now it has said Suzano will not invest in the next steps of its proposed collaboration with Spinnova. In a statement on February 28, the companies said they would begin a strategic review of Woodspin.
The decision not to go ahead is Suzano’s. The Brazilian group told Spinnova that it has “newly defined priorities and capital allocation strategies”. But Suzano will continue to be a shareholder in Spinnova.
Spinnova said it continues to see significant interest from other parties in its fibre and technology. The review will assess the terms for the termination of exclusivity rights that are part of the joint venture agreement.
