Update on Woodspin ramp-up – the development of the raw material production process advances

SPINNOVA PLC, PRESS RELEASE, 30 January 2024, 9:30 a.m. EET

Update on Woodspin ramp-up – the development of the raw material production process advances

The ramp-up of Woodspin’s first factory is progressing. As announced in August, the raw material provider Suzano has been working on the eucalyptus-based micro fibrillated cellulose (MFC) raw material specifications, and now, recent tests have been successful.

“We are pleased that Suzano has passed some important milestones related to the MFC raw material development. Spinnova continues to finalize the fibre and textile material development work so that fibre deliveries from Woodspin to customers, made from Suzano MFC, can begin in the coming months,” explains Spinnova’s CEO Tuomas Oijala.

Spinnova and Suzano continue to work together to improve the efficiency of the production process, and the operating expense and capital expenditure usage of both Suzano’s raw material process and Spinnova’s process, so that Woodspin can move to commercial scale production in future plants.

As announced earlier, the production volumes of Woodspin’s first factory are expected to be limited in the short term as the factory is currently primarily being used for testing MFC batches and optimizing the entire production process. The market opportunity and ambition level with Suzano to scale Woodspin’s production capacity with future plants remains unchanged.      

Spinnova Plc

For further information, please contact:
Virva Vesanen, Head of Investor Relations
Tel. +358 20 703 2430
ir@spinnova.fi

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