Fibria and Spinnova partnership!
Spinnova and Fibria started long term partnership
Spinnova has started long term partnership with Fibria, Brazilian forestry company and the world’s leading producer of eucalyptus pulp from planted forests. Through 5 M€ investment Fibria is Spinnova’s new minor shareholder and board member. To verify Spinnova technologies in pre-commercial scale it is agreed to start a joint development project targeting pilot scale production. It is also agreed to establish JV for the production and trading of Spinnova products when reaching commercial stage.
The new partnership with Fibria will help Spinnova grow our business faster and significantly enhance our global competitiveness. We value highly this win-win partnership with a lot of strategic level synergies and a shared vision. We have been impressed with Fibria’s ability to work with a small technology company when actively looking for new business opportunities.
Janne Poranen, CEO