Spinnova

Spinnova continues to commercialize its technology on its own, which we believe was quite expected. Overall, Spinnova's hefty release package yesterday left us with a fairly neutral picture and did not materially change the share's risk/reward ratio.  

Spinnova's strategic choices going forward are key for the company's share. Based on the fairly large organization remaining with the company, we believe it is possible that the company will continue to commercialize its technology mainly on its own. We have been expecting Spinnova to announce its strategy before the summer holidays.  

The news follows Suzano's decision in February to withdraw from the planned investments in Spinnova's fiber production. We are not at all surprised by the downsizing of the organization and the savings plans, as Suzano's decisions will at the very least delay the company's entry into the revenue-generating commercial phase.

The news follows Suzano's decision in February to withdraw from the planned investments in Spinnova's fiber production. The situation with Woodspin is difficult, as Suzano is unlikely to have an interest in the company, while we believe Spinnova cannot finance the loss-making Woodspin without partners.

Spinnova announced yesterday that the company’s Board of Directors has appointed Janne Poranen as CEO effective March 20, 2025. Janne Poranen will be responsible for all Spinnova Group businesses and for leading the Management Team. He will also continue as the Chair of the Board.