Finland-based biomaterials company Spinnova has announced in its results announced for 2022 has reported full-year revenues of almost €24.3 million for 2022. This surge in revenues amounts to a year-on-year increase of over 300 percent.
In the year 2022, Spinnova was able to complete the construction of its first factory for Woodspin products. Woodspin is a textile fibre from cellulose that is derived from wood pulp. The new Spinnova factory started producing fibre in February 2023. The construction of its second Woodspin factory is in progress and is scheduled to complete in 2024. Where Suzano is its partner.
The company worked on different textile projects with several clothing brands last year that included Marimekko, Bestseller, Bergans, The North Face, and Icebreaker. The company increased its workforce by 30 percent to 75 workers.
Finnish outdoor brand Halti has revealed the first product made from SPINNOVA® fiber. The water-resistant and windproof Cyclus unisex parka jacket is made from SPINNOVA® fiber and cotton and has been dyed with imogo’s hi-precision dyeing technology. The parka will be available for purchase in spring 2023.
BESTSELLER’s largest brand, JACK & JONES has introduced a pair of men’s trousers available for consumer sales. The trousers, called Bill Revolver Wide Chinos, are made of 20 percent SPINNOVA® fiber, 20 percent BCI cotton and 60 percent organic cotton, and are available online with a global reach.
Spinnova reports a 300% increase in revenue
