Fibria, the leading producer of eucalyptus pulp, and Spinnova, a Finnish start-up developing wood to fabrics technology, announced that Fibria is to acquire 18% of Spinnova and partner in the development, production and marketing of new materials using Spinnova’s technologies. The two companies were brought together in a partnership search process managed by Pöyry. This is an example of Pöyry’s choice to work closely with the startup scene from bio to digital. Pöyry has also a long-standing relationship with Fibria through many project assignments.
Pöyry’s role in Spinnova’s partnership development assignment was to help find the right industrial partner for the company, the assignment including potential partner analysis, partner relationship development, negotiations and contractual advisory. At the end of the process, Spinnova and Fibria came together for new opportunities in technology development, testing and piloting in pre-commercial scale of new high-value products.
In such a process, being able to support a startup necessitates a trusted position among global forest cluster companies from biomass to end users, extensive market understanding and knowledge of innovative technologies, all of which Pöyry has put much effort into developing.
Spinnova develops low-cost and environmentally sustainable technologies for making fabrics. The technologies use wood fibers to produce filaments and yarns that can replace cotton, viscose and other raw materials in both woven and nonwoven applications. Fibria is a Brazilian forestry company and the world’s leading producer of eucalyptus pulp from planted forests.
“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. It was great to work with the Pöyry team. They are real professionals and their help was invaluable during the partnership search process,” said Janne Poranen, CEO and founder of Spinnova.
“We are active in the start-up scene and continuously looking for new technologies and companies especially in bioindustries, energy and the digital space. Our global network and strong relationships with major forest cluster companies enable us to find the right partners for different needs and connect start-ups and investors for mutual benefits. We are the trusted partner to our clients and support them with our market and technical understanding covering the whole value chain from raw materials to end markets,” said Petri Vasara, Vice President Management Consulting, Pöyry.