Spinnova - Finnish wonder fiber

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This kind of “old-new” partnership for the Spinnova ecosystem: Spinnovan kumppani NZ TEX GROUP tukee SPINNOVA®‑kuidun skaalausta | Kauppalehti

Spinnova’s long-term woven fabric manufacturing partner, the Bangladeshi NZ TEX GROUP, supports the scaling of SPINNOVA® fiber by joining the Spinnova ecosystem. NZ TEX GROUP and Spinnova have been co-developing fabrics, including denim, for several years. Now the partners are strengthening their collaboration through the ecosystem model.

Founded in 1982, NZ TEX GROUP is a vertically integrated textile group specializing in woven fabrics such as denim. It works closely with well-known international fashion brands and manufactures fabrics on an industrial scale according to market and brand requirements.

The collaboration between the companies began with R&D work, where SPINNOVA® fiber has been tested and utilized in several fabric trials. NZ TEX GROUP has been responsible for weaving, dyeing, and finishing the fabrics, leveraging its expertise in denim and woven textiles. The development work has focused particularly on denim, where SPINNOVA® fiber has proven to be well-suited.

Through the partnership, NZ TEX GROUP supports the transition from the development phase to industrial fabric production. As part of the ecosystem, NZ TEX GROUP will utilize SPINNOVA® fiber in the production of denim fabrics, which will be showcased at the Kingpins New York trade show in July 2026. Kingpins is a denim-focused trade event that brings together mills, suppliers, and brands.

“Collaboration with NZ TEX GROUP brings our denim development work closer to the market. We have been co-developing and finishing denim fabrics utilizing SPINNOVA® fiber for several years, and showcasing these developments at the Kingpins show in New York is an important next step in bringing our fiber into established textile supply chains,” says Shahriare Mahmood, Spinnova’s Chief Product & Sustainability Officer.

“This partnership supports our goal of offering innovative and sustainable yarns and fabrics to the global apparel market. Spinnova’s fiber technology has strong potential for sturdier materials such as denim,” says Saleudh Zaman Khan, Chairman of NZ TEX GROUP.

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Here are the comments from Kaisa and Antti regarding NZ TEX GROUP joining Spinnova’s ecosystem to support the industrial scaling of the fiber. :slight_smile:

We view a textile manufacturer joining the partner network as a minor positive step on the commercialization path, as it strengthens the fiber processing chain all the way to the finished fabric. However, it is very challenging to estimate the impact of this news on the duration or difficulty of the commercialization path for the remaining first industrial project.

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Antti and Kaisa have published a new company report on Spinnova. :slight_smile:

We reiterate our reduce recommendation and target price of EUR 0.45 for Spinnova. We have not made material changes to our forecasts regarding the progress of the commercialization of Spinnova’s technology following the company’s H1 news flow, even though Spinnova appears to have moved forward in its strategy both in terms of assembling the cooperation consortium around the technology and in verifying the reduction of technology production and investment costs. However, the risk-reward profile of the share remains exceptionally difficult to grasp, which is why we maintain a cautious stance on Spinnova for the time being.

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New Chief Technology Officer for Spinnova

Sampo Immonen joins Spinnova from Valmet’s product development team. Spinnova’s current Chief Technology Officer, Juha Salmela, will continue in the management team in a new role.

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Seems like a good hire, considering that Spinnova and Valmet already have a cooperation agreement in place, meaning Valmet is the exclusive partner for producing process equipment for Spinnova’s technology partners. I therefore assume that the agreement signed in August 2024 is still in effect.

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