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Finnish startup Spinnova has entered a joint venture to build a commercial-scale facility. It will be able to produca a new green fibre made from wood pulp. Photo: Instagram/@spinnova fibre
Is the fashion world ready for more clothes made of wood? Suzano SA, the world’s largest wood pulp maker, is making a big bet that it is, and joining the party is Finnish startup Spinnova.
The two players are entering a 50-50 joint venture to build a commercial-scale facility to produce a new green fibre made from wood pulp.
Production from the new facility, which requires an investment of 50 million euros (RM246 million), won’t hit the market until 2022. But one of of the biggest names in retail is already on board.
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