Spinnova Plc has signed binding agreements to acquire 100 percent of Woodspin Oy and Suzano Finland Oy from Suzano S.A. for a symbolic amount of €2, ending their joint venture. The deal includes full ownership of Spinnova’s large-scale demo facility and future licensing rights to its wood-based fiber technology.
Suzano will provide €5 million in capital to support the transition. While Woodspin operations are currently paused, Spinnova plans to explore future options.
No immediate cash flow impact is expected; however, Spinnova will recognize an impairment loss in 2025. The half-year report, due Aug. 28, will detail the financial impact.
Woodspin was established in 2020 as a 50:50 joint venture between Spinnova and Suzano to scale sustainable fiber production.
