From Poranen’s interview, I got the feeling that no stone will be left unturned to improve cost-effectiveness.
I also find the use of raw materials suitable for human consumption problematic. Although I don’t know how Spinnova views different raw materials, I personally see the expansion of the raw material base as a good thing for the following reason:
If Spinnova’s technology is ever used to produce fiber on a large scale, it will naturally create a lot of additional demand for the raw material used in the process. If we rely on only one raw material, its price may start to rise if supply cannot meet the increased demand. For raw materials suitable for feed, this situation can arise precisely when there is demand for it in feed use as well.
A broad raw material base manages the price risk associated with raw materials in such a way that if one raw material cannot meet all demand, substitute raw material can be sourced from elsewhere.
For such multi-raw material use to work, the process would naturally have to be able to use different raw materials interchangeably. I don’t know if this is a realistic possibility.
I bought a Jack&Jones t-shirt about a year and a half ago, which contains some fiber from Spinnova. It has held up very well to use and washing, even enduring a 60-degree wash, although the care label specifies 40 degrees.
This might belong in the ‘my own experiences’ thread, but since it still touches upon the functionality of the fiber, my own experiences with the same shirt are also excellent. It has been in heavy use for a long time already, is still in good condition, and very comfortable to wear. Based on this hunch, I would say that the cost side is the only remaining sticking point
The CEO’s appearance seems to have impressed small investors, judging by the share price reaction, even though the trading volume is admittedly small.
Looking at the list of owners, it makes one wonder if Adidas or Ecco would have an interest in financing the innovation in the long term. This theoretical option, of course, depends on how satisfied they have been with the products.
This is a problem with almost all new products launched by the forest industry in the 21st century. (At least in some) technical properties, the product is superior to traditional ones, but production costs are too high for consumer customers to be willing to pay the required premium.
This can be compared to cardboard made from recycled fiber. Recycled cardboard has been made in Finland since the 1970s, and the original reason was the lower price of collected cardboard compared to so-called virgin wood fiber. So, an economic driver was found naturally → the operation is sensible.
21st-century bioproducts, on the other hand, are based on eliminating negative externalities of traditional production that have not been priced in the market at all or have been inadequately priced. As a result, such production can only be profitable if it is politically decided to provide sufficient compensation for new types of production or sanctions for old models.
Spinnova becomes profitable if, for example, an EU-wide 15% (or similar) environmental tax is imposed on clothes made from natural cotton. Otherwise, it might be difficult.
The nutritional value of oat hulls as feed is very low. In any case, a lot of feed oats are hulled, and the hulls are currently mostly used for burning, as far as I know. For animals that can use unhulled oats as feed, the reason for not hulling is probably mainly cost.
In my opinion, the “story” of oat hulls as a raw material could in any case be a strength, even if it competes with feed use. Many believe that replacing cotton is environmentally more valuable than the production of animal-based food industry.
One has to wonder a bit about Spinnova’s impressive stock rally in recent days without any news (perhaps a bit poorly phrased, as there was just the H1 review and a contract before that). Could it be a relief rally, now that a binding agreement was reached with Suzano, meaning Spinnova now has a free hand to market its technology and make agreements? On the other hand, Suzano still remains the largest shareholder, in the driver’s seat; this can be seen from the new composition of the nomination committee: Spinnova Oyj:n nimitystoimikunnan kokoonpano | Kauppalehti
Hopefully, however, this is not some “pump and dump” investment scam. Yesterday in Kauppalehti, @Maija_Vehvilainen had an article about those scams, which are marketed, for example, under Mika Heikkilä’s name. Unfortunately, it’s likely behind a paywall. The idea is to give people a stock tip for the day so that as many private investors as possible buy the stock, allowing the initiator of the scam to sell their shares at an opportune moment. The article focused this time on a US stock, but such “recommendations” are also given for Finnish stocks. How toothless are the Financial Supervisory Authority (Finanssivalvonta) and the stock exchange’s surveillance systems regarding such schemes!? Paywall indeed: ”Miina” antoi huikean osakevinkin, mutta muuttui pian aggressiiviseksi – Toimittaja testasi sijoitushuijauksen | Kauppalehti
Let it also be said that if something were truly happening behind the scenes, the company would have a disclosure obligation given the sudden rise in share price, and there would be reason to suspect that an insider project has leaked.
The €0.50 → €0.90 price range ‘lacked sellers’, as it was dropped without trading. Naturally, some of those who had bought at the lower price level likely emerged there.
Regardless, today a higher volume area was reached.
If people’s belief made Spinnova almost worth a billion, then it’s not impossible to get millions with just hope. However, the company was seen as an ethical domestic growth story for which the doors were immediately open to the advertising campaigns of big brands.
I myself bought it after the webcast, somewhat like an option, because based on that, it seemed like there were still opportunities. But this rise has definitely gone overboard. I wouldn’t rule out that there’s some pump and dump going on here, as mentioned earlier.
It’s hard to say what motivates each person to buy and sell shares. One can only hope it’s not a pump and dump. A positive thing to mention is that if it’s some kind of cornering (or similar), then fortunately, the disclosure obligation now also applies to these First North companies, so it will be revealed much earlier.
It’s been quiet here for the last couple of weeks. I’m calmly waiting for the partner announcement. It will also be interesting to see the potential big buyers and sellers from September at the beginning of October.
Spinnova and Suzano finalized the arrangements related to Woodspin and Suzano Finland (link). This practically went in line with forecasts and expectations. The terms of the arrangements were announced in June and confirmed in August.
Spinnova: ARMEDANGELS Develops More Sustainable Products from SPINNOVA® Fibre
SPINNOVA PLC, PRESS RELEASE, 11 December 2025 at 9:00 a.m.
ARMEDANGELS Develops More Sustainable Products from SPINNOVA® Fibre
The German fashion brand ARMEDANGELS has signed a non-binding letter of intent to secure the future availability of SPINNOVA® fibres. The agreement is a significant step towards the ecosystem (consortium) built by Spinnova, which aims to promote the future availability of Spinnova’s technology and materials.
ARMEDANGELS strongly emphasizes responsible and ethical textile manufacturing. The company’s clothing is made from innovative and sustainable materials, the production chain is transparent, and the company is committed to fair working conditions throughout the entire value chain. Each product is designed based on a thoughtful material selection, where the origin, processing, durability, and impact on the environment and people are evaluated according to precise criteria. In line with these principles, ARMEDANGELS will also develop products from SPINNOVA® fibre as part of its collection in the future.
Yesterday’s share price hardly stemmed from that. That stock is being thrown to the wind for completely different reasons. That agreement is probably just more pins on the chest. So we’re friends on Facebook and nothing more significant happens?
Here are Antti’s and Kaisa’s comments on this new “partnership”.
We believe the new brand partnership is a positive addition to Spinnova’s partner network and supports the long-term demand outlook for the company’s technology-produced fiber. However, we do not believe the agreement will be financially significant in the near future. Key to the company’s commercialization efforts remain reducing technology investment and production costs, and finding parties interested in technology investments.
Spinnova Welcomes TOMMY HILFIGER to Accelerate Sustainable Textile Innovation
SPINNOVA PLC, PRESS RELEASE, DECEMBER 18, 2025 AT 9:00 AM
Spinnova Welcomes TOMMY HILFIGER to Accelerate Sustainable Textile Innovation
PVH Corp.'s brand TOMMY HILFIGER joins the ecosystem (consortium) built by Spinnova and supported by Fashion for Good to ensure the availability of SPINNOVA® fibers and to develop fabrics from the fiber. The collaboration expands the application possibilities of SPINNOVA® fiber across the brand’s various product categories.
The collaboration is an important step towards the ecosystem built by Spinnova, which aims to promote the future availability of SPINNOVA® fiber.
“We are delighted to welcome TOMMY HILFIGER to the Spinnova consortium. Their commitment to exploring more responsible materials aligns with our mission to increase the availability of our textile materials,” says Pedro Brito, Spinnova’s Senior Commercial Manager.
On the brand side, the consortium building indeed seems to be progressing quite nicely, even though no particularly strong commitments have been mentioned in the press releases. Hopefully, by February at the latest, we will receive more information about the overall picture, as well as progress in reducing technology investment and production costs. Next year will, in any case, be very important for the formation of Spinnova’s investor story.
