A cutting-edge country in terms of sustainability, Finland is at the head of a bona fide revolution in favour of new materials and sustainable business models for the international textile segment, which is one of the industries that has the most negative impact on an environmental, climatic, and social level. It is precisely in Spinnova, a leader in this green movement, that the top German sportswear brand Adidas decided to invest, subscribing 3 million euros worth of shares in the company's planned initial public offering. A win-win operation for both companies: from one end is Adidas, which is trying to increase the number of sustainable materials used in its garments and accessories, that will be able to count on the innovative and patented wood pulp fibre of Spinnova. Natural, biodegradable and/or recyclable, it is produced in cutting-edge facilities without the use of microplastics or harmful chemical substances, with a 99% reduced use of water and with extremely low CO2 emissions when compared to traditional productions.
From the other end, Spinnova will use these proceeds for investments in renewable energy and in projects to promote recyclable materials. The Finnish company is also working on two other fronts: in the construction of its first commercial factory in Finland with strategic partner and wood raw material supplier Suzano, and it is also building a pilot facility for fibre production out of leather waste.
Adidas, instead, which has set itself the goal of using only recycled polyester by 2024, is collaborating with another Finnish start-up that aims to give a second life to used clothing, transforming the fabrics they are made from into a material similar to cotton in terms of look and performance. Ultimately, this giant in sportswear would like to reduce the percentage – estimated today between 75-85% – of those 92 million tons of textile waste produced annually on a global scale, which end up either incinerated or in landfills.