Sustainable fibres producer Spinnova names Janne Poranen as CEO

Spinnova, a Finnish company specialised in producing cellulose fibres free from harmful substances using paper, carton, cotton, leather and agricultural waste, has named its co-founder Janne Poranen as CEO. He takes over from Tuomas Oijala, who announced he was stepping down as CEO at the beginning of March.

Poranen has a PhD in Physics, and had previously been in charge of Spinnova between 2014 and 2022, subsequently serving as chairman of the board of directors. “Our organisation is currently focusing on making fibre production profitable, with a view to increasing output on an industrial scale,” said Poranen.

The new appointment comes after a pivotal year for Spinnova. In March 2024, the company announced it wanted to concentrate on selling its manufacturing technology to other industrial partners. This was followed by a financially challenging period, as production costs soared.

In 2024, the company generated revenue of €762,000. A staggering downturn compared to the €10 million generated in 2023, when Spinnova supplied industrial equipment to Finnish company Woodspin, a producer jointly set up by Spinnova with paper pulp specialist Suzano.

At the end of February, Suzano said it no longer intended to invest in a continued collaboration with Spinnova, following a reorientation of its business strategy. This led it to negotiate exclusive rights for the exploitation of the Woodspin factory. The latter is said to be able to produce 1,000 tons of fibre per year, an output capacity that still needs to be industrially exploited.

Spinnova was founded in 2014, and made a name for itself in 2020 by producing handbags for Bergans of Norway. The following year, it won the ANDAM Innovation Prize. It has also launched several high-profile collaborations, for example the Terrex hooded T-shirt with Adidas, as well as developing products for Puma, The North Face, Marimekko and Bestseller.