JYVASKYLA, Finland
,
August 16, 2023
(press release)
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Spinnova has received a grant of maximum EUR 1.9 million for its research and development (R&D) work from Business Finland for the period 15 April 2023 – 14 April 2025. The grant amount represents 50% of the project’s total cost estimate totalling EUR 3.9 million. The product development project aims for pilot-scale production of SPINNOVA® fibre from textile and agricultural waste streams. The refining environment to be developed during the project can also be used for the recycling of SPINNOVA® fibre. The project aims to expand Spinnova’s technology offering by adding new refining and fibre recycling components, which could be used by factories producing SPINNOVA® fibre. This will open new strategic opportunities for Spinnova to expand its business. More energy-efficient refining is also expected to improve the competitiveness of the SPINNOVA® fibre. “Business Finland’s grant supports our development work to become even more sustainable and competitive by being able to offer technology that can process multiple circular raw materials into textile fibre”, says Spinnova’s Chief Technology Officer and co-founder Juha Salmela.
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