Fibria, Spinnova develop technology to make fabrics from wood fiber
Brazil’s Fibria Celulose SA will pay €5.0M for an 18% stake in Spinnova Ltd., a Finnish start-up that develops sustainable technologies that use wood fibers to produce fabrics; Fibria and Spinnova will partner to develop new high-value products beyond pulp production.
The manufacturing method was originally developed by VTT Technical Research Centre of Finland, and Spinnova has continued to develop the technique.
The method is said to consume 99% less water and 80% less energy than cotton. Based on this technology, the amount of wood used annually in Finland would be enough to replace the world’s entire cotton production.
“The partnership strengthens Fibria’s positioning for the development of new high-value products that go beyond the commodity concept and complement our global leadership in eucalyptus pulp production. The acquisition of an interest in Spinnova strengthens our portfolio of investments in companies with the capacity to offer solutions for problems related to climate change and the low-carbon economy,” said Fibria’s CEO, Marcelo Castelli.
The agreement features a joint investment in the development of a pilot production line for testing the feasibility of Spinnova’s technologies and production on a pre-commercial scale. If the project reaches the commercial phase, the two companies could create a joint venture for producing and marketing products.