Spinnova is reportedly preparing a possible stock market listing in the États-Unis, according to FashionUnited UK. L'entreprise is said to be aiming to raise at least $15 million to support the commercialisation and scaling of its wood-based textile fibre technology.
The company reportedly confidentially submitted a draft registration statement to the US SEC for this planned listing. If completed, the transaction would give Spinnova a dual listing: its shares would continue to trade on Nasdaq First North Growth Market Finland while also being listed on a US exchange.
Spinnova is going through a difficult period. Production had stopped at the Woodspin demonstration plant in 2025, after Brazilian pulp producer Suzano withdrew its investment from their joint venture. Spinnova is then said to have acquired full ownership of Woodspin and Suzano Finland, taking control of the facilities and fibre production.
L'entreprise reported revenue of 344,000 euros in 2025. In April, it reportedly resumed production trials at the Jyväskylä plant to demonstrate its technology at a larger scale, with the aim of improving production efficiency and fibre quality. Engineering firm Sulzer also joined its industrial consortium in February, to strengthen the technology's industrial maturity and cost competitiveness.
Partnerships without significant sales
Spinnova has established interest and purchase agreements with several fashion brands, including H&M Group, Marimekko, The North Face, Armedangels and Tommy Hilfiger. These partnerships have not yet, however, led to significant sales.
Spinnova states it has not yet determined the price range, nor the number or type of securities that would be offered as part of this transaction, which remains subject to market conditions and regulatory requirements. The company plans to use the proceeds of the listing to accelerate its Eteläportti demonstration facility, advance commercialisation and cover general corporate needs.
