Spinnova, Suzano Sign LOI

Finland-based Spinnova has signed a letter of intent (LOI) with Brazil-based Suzano S.A. for a potential new 20,000-metric-ton-per-year capacity SPINNOVA® fiber production facility. Suzano will secure funding and own and operate the plant, while Spinnova will provide the fiber production technology for the wood-based fiber. The non-binding LOI includes preliminary terms and conditions as well as requirements for moving into a pre-engineering phase. The two companies previously collaborated to open the Woodspin Spinnova fiber facility in 2020 in Finland — the first Spinnova plant.

“This marks a huge milestone for Spinnova in scaling our fiber technology by a technology sale to Suzano,” said Spinnova’s CEO Tuomas Oijala.“Together with Suzano, we will continue to work intensely to reach the level where the Spinnova process and fiber are ready for large-scale industrial production.”

March/April 2024