Adidas invests in Spinnova

Sportswear corporate Adidas will be investing about 3 million euros on a Finnish-based company Spinnova, a sustainable textile company that produces textile fibre out of wood or agricultural waste. The company aims to make cellulose-based materials environmentally friendly, cost-efficient and a preferred manufacturing option for brands and the company says it is the only company in the world able to manufacture textile fibre out of cellulose without involving any harmful chemicals, minimal water use and emissions and zero waste.

Spinnova’s co-founder and CEO Janne Poranen stated on the investment that they are an ideal match with the ambitious and pioneering Adidas sustainability strategy. Since April 2021, Spinnova has been ramping up its commercial capabilities and aiming to scale production with its first factory in Jyväskylä, Finland, which is expected to be operation by the end of 2022.