SPINNOVA® fibre producer Woodspin and PUMA sign multi-year Letter of Intent
SPINNOVA PLC, PRESS RELEASE, 10 DECEMBER 2024 AT 12:00 P.M. EET
SPINNOVA® fibre producer Woodspin and PUMA sign multi-year Letter of Intent
Woodspin Oy, the producer and seller of the sustainable wood-based SPINNOVA® fibre and the global sports brand PUMA SE have signed a Letter of Intent (LOI) to secure access to fibre volumes for several years. Woodspin is a joint venture company of Spinnova and Suzano.
The LOI is a non-binding agreement for booking volumes of wood-based SPINNOVA® fibre from Woodspin.
Spinnova and PUMA will collaborate to develop products from SPINNOVA® fibre for future collections, particularly in products of PUMA’s Sportstyle category.
“We are very excited to announce an LOI for SPINNOVA® fibre with a major global brand like PUMA. This marks an important step in building the market and industrial adoption of SPINNOVA® fibre, which is needed to scale the fibre and Spinnova’s technology,” comments Shahriare Mahmood, Spinnova’s Chief Product and Sustainability Officer.
”This partnership with PUMA showcases the potential of sustainably sourced and renewable raw material to transform the fashion industry by inspiring and empowering people to make more sustainable choices,” says Jari Aittakari, Woodspin’s Sales Director.
“Spinnova’s innovative fibre technology represents a new gateway into the world of
manmade cellulosic fibre (MMCF) production, using water instead of chemicals to help
produce these fibres,” says Howard Williams, Director Global Innovation Apparel & Accessories at PUMA
Spinnova Plc
For further information, please contact:
Shahriare Mahmood, Chief Product and Sustainability Officer
Tel. +358 20 703 2430
comms@spinnova.fi
Jari Aittakari, Woodspin Sales Director
Spinnova – The textile material innovation
Spinnova technology transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed breakthrough patented technology for making textile fibre out of wood pulp or waste, such as leather, textile or agricultural cropping waste, without harmful chemicals or dissolving.
Spinnova technology creates no side streams in the fibre production process, and the SPINNOVA® fibre has minimal CO2 emissions and water use, as well as being biodegradable and recyclable. The Spinnova technology uses a mechanical process which gives the fibre the look and feel of a natural cellulosic fibre such as cotton.
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
Woodspin
Woodspin is the exclusive producer and seller of wood-based SPINNOVA® fibre, a sustainable, recyclable, material made from trees. Woodspin is a 50/50 joint venture between the world’s largest hardwood pulp producer, Suzano, and Spinnova, an innovative Finnish materials technology company. Woodspin’s unique product fuses the responsibly grown eucalyptus hardwood of Suzano with the pioneering technology of Spinnova. In our process we use radically less water and fewer CO2 emissions than alternative fibres, requiring no harmful chemicals, and leaving no waste by-products.
http://woodspin.com/
PUMA
PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For 75 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 20,000 people worldwide, and is headquartered in Herzogenaurach/Germany.