Spinnova has entered into an initial agreement to assume complete control of the Woodspin demonstration plant, with Suzano selling its shares in the joint venture. This development follows a strategic review that commenced in February 2025 and subsequent negotiations in April.
The agreement signifies Suzano's formal exit from the Woodspin project, which focused on wood-based fiber production. This strategic decision allows Suzano to reallocate resources towards other identified priorities.
This transaction clarifies the future ownership and operational direction of the Woodspin plant, with Spinnova now positioned to independently pursue its objectives for scaling its fiber technology.
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