Latest news with #Spinnova
Yahoo
2 days ago
- Business
- Yahoo
Material World: Suzano Sells Woodspin Shares to Spinnova
Material World is a weekly roundup of innovations and ideas within the materials sector, covering news from emerging biomaterials and alternative leathers to sustainable substitutes and future-proof fibers. Woodspin Oy, the exclusive producer and distributor of Spinnova's wood-based fiber, is jointly owned by the Finnish fiber firm and the Brazilian cellulose producer, Suzano. Following the plant's strategic review in February—which saw Suzano share its intent to cease collaborations as the eucalyptus pulper said it would not invest further in Woodspin's next phase of cooperation and will temporarily halt financing the facility—the venture entered negotiations in April. More from Sourcing Journal Material World: NC State Research Says Merino is All Wool and No Shoddy HKRITA, Epson Find Shiny New Life for Dead Cotton SST's Student Runway Turn Inward to Look Ahead As a result of those negotiations, Spinnova has signed a non-binding term sheet to secure full ownership of the Woodspin demo plant. Per the terms, Spinnova Ojy would acquire all Woodspin shares held by Suzano S.A. for a consideration of one euro. Both Spinnova and Suzano will continue to fund Woodspin for the financial year 2025, as agreed and committed in February. The second term confirmed that Spinnova Oyj would acquire all Suzano Finland Oy shares held by Suzano S.A. for a consideration of one euro. This includes all assets in Suzano Finland—mostly consisting of equipment for refining and microfibrillated cellulose (MFC) technology. Most of Suzano Finland Oy's employees—18 in total—would be part of the acquisition. Suzano Finland Oy is currently wholly owned by Suzano S.A. The third matter confirmed that Spinnova Oyj and Suzano S.A. would terminate the joint venture agreement and all related exclusivity rights. This would enable Spinnova to license the technology to any chosen party producing fiber out of wood-based raw material. In addition, Suzano would make a capital contribution of about $5.7 million (5 million euros) in total to Woodspin and Suzano Finland. In the short term, the company said, planned transactions would not have an operative impact on Spinnova. As a result of the agreement, Spinnova would get full ownership of the lone large demo facility, with the needed infrastructure and utilities in place to produce Spinnova fiber from pulp to bale. The acquisitions would not have an adverse cash flow effect in the short term on Spinnova, the company said. All transactions—including the acquisitions of the shares of Woodspin and Suzano Finland, as well as the termination of the related exclusive rights—are subject to the execution of definitive agreements, expected to finish no later than the end of August. The change negotiations in Woodspin, covering the entire staff (33 employees), were completed on May 26 and communicated to the employees on June 10. As a result, 27 employees will be temporarily laid off until further notice. While Spinnova is looking for alternatives to continue operations at Woodspin, those operations will be stopped until further notice. Shortly after the strategic review news was made public, Spinnova shared an updated strategy: improve the cost efficiency of its production process. 'We have received confirmation from textile value chain operators that the properties of Spinnova's fiber are already sufficient for selected commercial applications,' said Spinnova's CEO, Janne Poranen. 'However, fiber production costs are currently too high. For this reason, we will focus in particular on reducing production and investment costs.' Spinnova's 2025-2026 priorities include developing its technology to be more cost-competitive, further developing the Spinnova fiber properties for non-textile applications, selecting wood-based and other cellulose raw materials for the Spinnova process, building an international consortium of companies to advance scaling Spinnova's technology, continue promoting the 50/50 joint venture with Ecco, and to target about $571,000 (500, 000 euros) annual cost savings through consolidation of Spinnova's sites in Jyväskylä, Finland. 'The goal is to build an international consortium of companies, the aim of which is to accelerate the scaling of the Spinnova concept,' Poranen said. 'We are currently looking for partners for this collaboration.' Spinnova will not give financial guidance for the years 2025 and 2026. In somewhat related news, Brazilian pulp producer Suzano and consumer staples industry leader Kimberly-Clark announced the creation of a $3.4 billion joint venture. Focused on the manufacturing, marketing and distribution of consumer and professional tissue products—such as toilet paper and paper towels—in over 70 countries, Suzano will acquire a 51 percent interest in the new entity. Kimberly-Clark holds 49 percent. Suzano will pay Kimberly-Clark $1.73 billion in cash for its 51 percent at the closing of the transaction, which is expected to be in mid-2026 and involve approximately 9,000 employees. 'This new company brings together two global players that are leaders in their respective markets, with complementary capabilities that combine Suzano's industrial expertise and operational management efficiency with Kimberly-Clark's know-how in brand management, marketing and commercialization of both regional and global brands, as well as its extensive experience in managing operations across multiple regions worldwide,' said Beto Abreu, CEO of Suzano. 'Both companies share strong organizational cultures rooted in innovation and sustainability. We look forward to combining great talent, good assets and tremendous brands that are trusted by consumers.' Kimberly-Clark will retain its consumer tissue and professional businesses in the United States and its interests in existing joint ventures in Mexico, South Korea and Bahrain, among other countries. 'This transaction represents a powerful step forward in Kimberly-Clark's transformation journey,' Mike Hsu, chairman and CEO at Kimberly-Clark, said. 'We are pleased to enter into a strategic partnership with Suzano, a leader in its field, and we look forward to working closely together to deliver on the significant opportunities ahead for our International Family Care and Professional Business.' Bio-design company Modern Meadow has tapped Italian agency Menabò Group as its partner to develop the Innovera brand and its global communications strategy. Innovera, formerly known as Bio-Vera, is made using plant-based proteins, biopolymers and recycled rubber—achieving over 80 percent renewable carbon content. While the animal-free material replicates the look and feel of collagen found in leather, Innovera isn't presented as an 'outright alternative' to animal leather but as a 'low-impact, high-performance option that tanneries and brands can offer their customers across fashion, footwear, the automotive industry and interior design.' Innovera made its debut at the Global Fashion Summit in Copenhagen held June 3-5. Modern Meadow CEO David Williamson's panel discussion explored the future of bio-design and the role of renewable materials. Antimicrobial solutions provider Microban has dropped H2O Shield: a PFAS- and PFOS-free water-resistant finish portfolio for textile applications. The technology drop marks Microban's first expansion outside of its traditional antimicrobial and odor control offerings. 'Microban provides a unique turnkey support structure, assisting our partners in combining finishing technologies while ensuring compliance and compatibility. Partners can also leverage our technical and testing support and trusted brand names,' said Microban International president, Michael Ruby. 'This synergy allows brands to deliver multi-functional performance with tailored solutions, protecting and extending the overall life of textile goods and delivering what consumers desire.' The technology offers four repellent options intended to meet the specific aesthetics and performance needs of various brands and manufacturers. The first—WR1000—is best suited for overall water repellency in low-touch applications, think shower curtains and tents. WR1001 is intended for wicking performance or athletic and sweat-resistant apparel such as ski jackets and running fabrics. WR1002 is formulated to address chalking defects and color shift issues on dark-color fabrics that scratch easily, like hiking gear and gloves. Best suited for applications where seam slippage is an issue, WR1003 can help prevent tearing in products like backpacks and tents. For fabrics that are traditionally difficult to treat, Microban offers an optional pretreatment, WR-P. It expands fabric compatibility—reducing water-repellent agent dosage by 15-20 percent and increasing the wash durability of the treatment. Beyond water resistance, H2O Shield is designed to work with other Microban technologies, including antimicrobial and odor control solutions. Canadian manufacturer of geosynthetics Solmax has launched its Performance Materials platform, the next chapter in the integration of a 'long-standing legacy' of TenCate Geosynthetics and Propex, now operating as a division of Solmax. Both TenCate Geosynthetics and Propex built an Industrial Fabrics reputation next to their Geosynthetics activities with durable and reliable solutions for the agricultural, recreational and specialty markets. That commitment remains unchanged, Solmax said, with Performance Materials carrying forward the same mission, with an 'even greater' global reach, resources and opportunities. 'Performance Materials builds on a proud legacy of delivering practical, reliable solutions,' said Bob Gilligan, CEO of Solmax. 'We are investing in the future of technical textiles, strengthening our offering for the agriculture, recreation, and specialty markets while staying true to the values that earned our customers' trust.' AMSilk, the world's first industrial supplier of vegan silk biopolymers, has expanded into the consumer care market with AMSilk4Shine and AMSilk4Care. AMSilk4Shine is a silk protein-based ingredient designed to provide a more sustainable, high-performance alternative to traditional petroleum-based polymers. AMSilk4Care is a base pure protein formulation ingredient, designed for brand owners and ingredient suppliers to test in their product formulations and 'unlock the full potentiall' of silk protein in different household and personal care applications. 'With AMSilk4Shine and AMSilk4Care, we are pushing the boundaries of bio-based consumer care solutions by offering an affordable biotechnology ingredient that meets the growing demand for eco-conscious products—without compromising on performance,' Ulrich Scherbel, chief executive officer of AMSilk, said. 'This marks an exciting step forward for AMSilk as we continue to explore the additional applications of our silk-based protein technology.'
Fashion United
4 days ago
- Business
- Fashion United
Spinnova's new strategy: Cost savings, lower fibre price and factory acquisition
Finnish material innovation company Spinnova (Spinnova) was forced to revise its strategy earlier this year following the withdrawal of its partner, Brazilian pulp and paper producer Suzano. Spinnova has now revealed its primary focus for 2025 and 2026. Spinnova's fibre can be used in many types of materials, but production costs remain high. By lowering these costs, the material should become more attractive for businesses to use. In addition, Spinnova aims to further improve the fibre so it can be applied outside of the textile industry. A further cost-saving measure is the consolidation of Spinnova's offices and production sites in Finland. According to the company's press release, this should result in annual savings of 500,000 euros. However, it is clear that Spinnova will continue to need partners. The company wants to build an international consortium of businesses to help scale up its technology. However, Spinnova has not yet named any potential partners. What it has mentioned is its intention to continue with its joint venture with Danish footwear brand Ecco. This joint venture, called Respin, uses leather waste and seeks new applications for it. Finally, Spinnova aims to become the sole owner of Woodspin, Suzano Finland and the Woodspin demo factory. Spinnova and Suzano had been joint venture partners in Woodspin since 2020. This was a production facility for Spinnova's wood-based fibres. In March, it was announced that Suzano had decided not to invest further in the collaboration with Spinnova. This was not due to a lack of confidence in Spinnova's technology, but rather a realignment of priorities and capital allocation. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Yahoo
05-04-2025
- Business
- Yahoo
Material World: Spinnova Collaborator Forms Joint Venture With IFF
Material World is a weekly roundup of innovations and ideas within the materials sector, covering news from emerging biomaterials and alternative leathers to sustainable substitutes and future-proof fibers. International Flavors & Fragrances (IFF) and global chemical company Kemira—which previously entered into a long-term collaboration with Spinnova in 2020—have formed a joint venture for the commercial-scale production of renewable biobased materials. More from Sourcing Journal Shuffle Board: Spinnova's New CEO? Chairman of its Board Material World: Lubay Takes the Leap, BioFabricate's Call to Action Material World: H&M's Global Change Award Edition Dubbed Alpha Bio, the venture received an investment of approximately $140 million (130 million euros) to convert up to 44,000 metric tons of plant sugars into bioproducts, with the Alpha Bio facility set to start production in late 2027, seemingly at the IFF's biorefinery in Kotka, Finland. 'Operating as an independent entity in Kotka, Finland, the joint venture will manufacture a specific line of products enabled by [Designed Enzymatic Biomaterials] technology for exclusive use by IFF and Kemira,' a company statement reads. 'The creation of Alpha Bio is expected to generate approximately 30 direct new jobs in the Kotka area with additional job creation during the project's construction phase.' With a strong industrial base along the Kemijoki River, according to Kotka's business website, the city's port is a major hub for exports to the wood, paper and pulp industries. Google's data center in the nearby Hamina helped pique the interest of more digitalized industries, including cleantech and the bioeconomy. The facility's outputs—including 'high-performance' biopolymers—will serve several sectors, including home, personal care and industrial solutions. The Alpha Bio venture will use IFF's Designed Enzymatic Biomaterials (DEB) platform technology as integrated at its aforementioned biorefinery. 'Our partnership with Kemira has reached a significant milestone, enabling us to scale the production of groundbreaking biobased materials to meet the large and growing demand for high-performing and sustainable alternatives to fossil-derived polymers,' said Erik Fyrwald, CEO of IFF. 'IFF's DEB technology not only guarantees superior purity and consistency compared to traditional biopolymers but also enhances performance across various applications. This innovative approach allows us to combine biodegradability and material sustainability while maintaining cost efficiency and the high performance our customers expect.' Developed over the past decade, the DEB platform 'leverages deep expertise in biotech research, process development and product commercialization,' per IFF Health & Biosciences, to 'create polysaccharides from the enzymatic polymerization of simple sugars.' In layman's terms, this means that DEB uses plant sugars and natural enzymes to create biobased materials (such as biopolymers) in eco-friendly conditions. Using this enzymatic polymerization process, the resulting materials can be customized for different applications (such as home goods or personal care), giving manufacturers a feasible swap for the traditionally used fossil-fuel-based polymers. Kemira holds global exclusivity for the commercialization of DEB biomaterial in the Paper, Board and Water Treatment markets. 'Since 2020, we've been collaborating with IFF using the DEB platform technology, which has allowed us to bring sustainable innovation to our key markets,' said Antti Salminen, CEO of Kemira. 'The new joint venture will build on this initial success, enabling us to scale up production and provide new performance-competitive alternatives to fossil-based products in key markets, including paper and board packaging, paper coatings and water treatment, while continuing to develop opportunities across other growth markets.' Woodspin Oy, the exclusive producer and distributor of Spinnova's wood-based fiber, is jointly owned by the Finnish fiber firm and the Brazilian cellulose producer, Suzano. Following the plant's strategic review in February—which saw Suzano share its intent to cease collaborations as the eucalyptus pulper said it would not invest further in Woodspin's next phase of cooperation and will temporarily halt financing the facility—the venture has now initiated change negotiations. Two options are on the table: continue operations or close them down. 'Woodspin's operations have a heavy cost structure and are unprofitable,' Spinnova said in a statement. 'Turning the operations profitable is likely to require significant investments and securing sufficient financing is uncertain.' In 2024, Woodspin's loss was around $7.25 million (6.7 million euros). Spinnova's share of loss was around $3.7 million (3.4 million euros). As of the end of last December, the book value of Woodspin on Spinnova's balance sheet was around $21 million (19.4 million euros). 'The scope of the change negotiations covers the entire staff working at Woodspin, a total of 33 employees, and all may be subject to the contemplated measures, including possible redundancies of all employees,' per the statement from Spinnova. 'Decisions on the personnel impact of Woodspin will be made after the change negotiations have been concluded. The estimated duration of the change negotiations is at least six weeks.' According to the current estimate, the statement reads, the outcome will be implemented 'as soon as possible' following the verdict, occurring no later than the end of December 2025. Spinnova said it expects this strategic assessment to be completed within 'the next few months' and will update the market—including financial guidance—when appropriate. Biomaterial company Modern Meadow announced that Karmuel Young, founder of the Karmuel Young label, used the company's biomaterial in his Sustasia Fashion Prize submission. The Hong Kong-based designer used Modern Meadow's Innovera, formerly known as Bio-Vera, in his four-in-one garment that transitions from a jumpsuit to a long coat, short jacket and pants. 'We are honored that Karmuel Young chose to use our Innovera biomaterial in his Sustasia Fashion Prize design to showcase the beauty and versatility of sustainable innovative materials in clothing,' said David Williamson, CEO of Modern Meadow. 'We, like the organizers of the Sustasia Fashion Prize who seek to address sustainability within the fashion industry, are inspired by nature and driven by purpose to introduce new materials and processes that can enable a healthier future for our planet.' Young, whose brand focuses on a 'modern masculine wardrobe,' used camel Innovera in suede to create 'a multi-functional piece with a modern twist' for men in various styles. Innovera is engineered to replicate the look and feel of the collagen found in traditional leather, crafted using plant-based proteins, biopolymers and recycled rubber. The resulting material features over 80 percent renewable carbon content that's 25 percent lighter and twice as strong, Modern Meadow said. 'This is my first convertible look, and it will give men more options to style their wardrobes in a timeless, sustainable way,' Young said. 'Modern Meadow's Innovera has the smell, look and feel of luxury and held its form well across my stitching and buttons. Being able to do good by using biomaterials and thinking about my impact on earth is very important to my designs and I look forward to incorporating more of these materials in the future.' Performance foam manufacturer Dahsheng Chemical (DSC) celebrated its 80th anniversary with a new insole offering: Durapontex eN35. Using DSC's supercritical fluid foaming technique, the insole is engineered for high-impact and jump-dominant sports while remaining lightweight. 'We designed the Durapontex eN35 for the athlete who demands high-energy return in a lightweight package,' said Fennie Wei, COO of DSC. 'By leveraging our own proprietary Durapontex N-Series supercritical fluid foaming technology and specialized formulation, the Durapontex eN35 exhibits a significant advancement in lightweight technology. This new material offers powerful energy rebound, yet in an even lighter form, which the elite athlete craves.' As part of the Durapontex N-Series, the Durapontex eN35 was designed to 'deliver resiliency and rebound' for sports like basketball, volleyball and tennis—those with a lot of quick moves and jumps. Made with a low-density performance and 100 percent recyclable foam, per DSC, its high-rebound insole can adapt to various stressors without risking structural integrity issues. Technology and advanced materials company Toray will adopt the mass balance approach—one that considers both biomass and plastic waste—starting this month, in manufacturing its 'Toraylon' acrylic staple fiber. 'A mass balance approach is one by which raw materials with certain characteristics (an example being biomass-derived) are mixed with other raw materials (such as petroleum-derived ones) in the processing and distribution process, from raw materials through finished products,' Toray explained. 'Characteristics are attributed to part of a product in line with input proportions of raw materials with those characteristics.' That said, Toray is working with both recycled materials and biobased materials, particularly in relation to nylon and polyester fibers. In this respect, acrylic fibers have been 'a challenge,' per Toray, due to 'a lack of waste resource of this single material.' Theoretically, using the mass balance approach allows Toray to offer value-added Toraylon that's also more environmentally conscious. Toray shared its plans to push forward with a life cycle assessment verification with its supply chain partners and apply for a review for inclusion in the Higg Index as well. The Japanese chemist said it has already obtained International Sustainability & Carbon Certification (ISC) Plus certification for this mass balance approach offering. This certification 'enables companies to demonstrate that they use sustainable raw materials and ensure transparency and traceability across their supply chains,' Toray said. Sign in to access your portfolio
Yahoo
30-03-2025
- Business
- Yahoo
Shuffle Board: Spinnova's New CEO? Chairman of its Board
Spinnova's board of directors has appointed Janne Poranen as chief executive officer. Pornane, the Finnish fiber firm's co-founder, will continue to serve as the chair of the board upon reassuming the position of CEO. He now handles all of the group's businesses and will lead its management team. Following Tuomas Oijala's resignation, the former CEO will continue supporting Poranen with strategy and depart by mid-September, as previously reported. Considering the 'current development stage and special circumstances,' the company said, Spinnova will 'deviate from recommendation No. 21 of the corporate governance code 2025, which concerns the separation of the roles of the CEO and chair of the board.' 'Suzano's decision not to invest into the next steps of collaboration with Spinnova was disappointing, but it also opens new opportunities,' Poranen said. 'We are aware of the challenges ahead, but the letters of intent signed last year showed that there is global demand and need for our solution.' More from Sourcing Journal H&M Hatches Plans to Create Digital Twins of Models DeJoy Resigns as Postmaster General; USPS Unions Say 'Hell No' to Privatization Shuffle Board: Carbios' Changing of the Guard The solution? Shifting Spinnova's focus back onto its fiber—something at odds with the efforts Oijala made during his 475 days (give or take) as CEO. 'We have the technological expertise of how to make the Spinnova fiber,' Poranen said. 'The organization is now concentrating on making the fiber production cost-effective for industrial scaling. We will continue this work with great focus.' H&M Group's head of sustainability, Karin Brinck, has left the Swedish giant after nearly 14 years. Per a LinkedIn post penned by Brinck, she joined H&M in 2011 while starting a second career in sustainability, joining H&M's Global Sustainability team as an EA. Per the post, she will take some time before taking on her next endeavor. Meanwhile, the nominating committee of H&M's board proposed that Klas Balkow be elected as a new member. Also requested was the re-election of Anders Dahlvig, Danica Kragic Jensfelt, Lena Patriksson Keller, Karl-Johan Persson, Helena Saxon, Christian Sievert and Christina Synnergren. It is proposed that Karl-Johan Persson be re-elected as chair of the board, while Stina Bergfors has declined to stand for re-election. Sneaker chain outpost Foot Locker announced that Franklin Bracken, currently executive vice president and chief commercial officer, has been named president, continuing to report to CEO Mary Dillon. As president, Bracken will work alongside Dillon on the company's Lace Up Plan strategy. Bracken will continue to oversee global retail operations, merchandising, marketing, digital, loyalty and real estate. Baby and children's apparel company Carter's announced that Douglas Palladini has been appointed chief executive officer and president and as a member of the board of directors, effective next Thursday. Palladini brings more than three decades of senior leadership experience, previously serving as global brand president at Vans and nearly 20 years at VF Corp. He most recently served as the founder and owner of Kickstand, a consulting firm focused on brand strategy, executive coaching and organizational design. Nebraska-based specialty retailer Buckle announced that Justin Ellison was appointed vice president of information security. Ellison has been with Buckle since 2005 and most recently served as senior director of information security. Brazilian ready-to-wear brand PatBo announced the appointment of Isabella Baboury as president. Baboury brings over a decade of experience in the luxury fashion space, having held roles as the director of Christian Louboutin and Chloé. She also spent time with Burberry in Canada, having previously served as one of the first executives at Saks Fifth Avenue during its expansion into the Canadian market. Sign in to access your portfolio
