SPINNOVA has acquired Woodspin for an undisclosed amount, bringing the textile fibre producer fully under its corporate umbrella. SPINNOVA is a company focused on transforming textile manufacturing through its patented technology, which creates textile fibre from wood pulp or various waste materials, such as leather, textiles, or food waste, without the use of harmful chemicals. Woodspin, identified as a producer of SPINNOVA® fibre, has been instrumental in the manufacturing process of this novel fibre.
This strategic acquisition represents a significant move for SPINNOVA towards vertical integration and increased control over its production capabilities. Woodspin’s existing role as a key manufacturer of SPINNOVA® fibre makes this transaction a logical step to streamline operations and enhance efficiency in scaling the technology. The acquisition is expected to create direct synergies by consolidating the development and production of the SPINNOVA® fibre, ensuring consistency and accelerating market readiness for textile brands.
By fully integrating Woodspin, SPINNOVA aims to strengthen its position as an innovator in sustainable textile materials. The combined entity will be better positioned to accelerate the global adoption of its technology and meet the growing demand for environmentally responsible fibre solutions. This move is anticipated to enhance SPINNOVA’s ability to deliver on its mission to transform the way textiles are manufactured globally, offering its unique, high-performance fibre as a sustainable alternative in the industry.