Spinnova Plc announced today, 28 February 2025, that Suzano Plc will not invest in the next steps of their collaboration. As a result, Spinnova does not expect Suzano to proceed with a factory investment in the near future.

Suzano stated that the decision is based on its revised priorities and capital allocation strategy, not on a lack of confidence in Spinnova’s technology. Suzano will remain a shareholder in Spinnova.

Spinnova and Suzano have agreed to initiate a strategic review of their joint venture, Woodspin, with completion expected in the coming months. The review will also assess the termination of exclusivity rights under their joint venture agreement. Spinnova continues to see strong interest in its fibre and technology from other industry players.

In parallel, Spinnova will conduct its own strategic review, evaluating all joint ventures and reassessing its strategic targets and financial guidance for 2025. The company will continue advancing its technology roadmap, including its MFC concept.

The strategic assessment is expected to conclude within the next few months, after which Spinnova will update the market.