JYVÄSKYLÄ, Finland — August 14, 2023 — Spinnova has received a grant of maximum 1.9 million euros for its research and development (R&D) work from Business Finland for the period April 15, 2023 to April 14, 2025. The grant amount represents 50 percent of the project’s total cost estimate totaling 3.9 million euros.
The product development project aims for pilot-scale production of SPINNOVA® fiber from textile and agricultural waste streams. The refining environment to be developed during the project can also be used for the recycling of SPINNOVA fiber. The project aims to expand Spinnova’s technology offering by adding new refining and fiber recycling components, which could be used by factories producing SPINNOVA fiber. This will open new strategic opportunities for Spinnova to expand its business. More energy-efficient refining is also expected to improve the competitiveness of the SPINNOVA fiber.
“Business Finland’s grant supports our development work to become even more sustainable and competitive by being able to offer technology that can process multiple circular raw materials into textile fiber,” said Spinnova’s Chief Technology Officer and co-founder Juha Salmela.
Posted: August 14, 2023
Source: Spinnova Plc