Spinnova and Valmet have signed a partnership agreement. According to the agreement, Spinnova has appointed Valmet as the exclusive partner to supply process equipment to Spinnova's technology customers. The exclusivity is limited in time and scope and includes an exclusivity fee based on realised project deliveries. Spinnova does not expect this to have a material impact on its 2024 financials.

Valmet has previously supplied drying technology for Woodspin's factory, a joint venture between Spinnova and Suzano. Spinnova and Valmet will continue to work together to increase the competitiveness of fibre production technology by lowering the capital and operational costs of fibre production, the company said in a press release.

"We are excited to ensure future collaboration with our long-standing partner, Valmet. With Spinnova's innovation and Valmet's capabilities as the leading global supplier of process technologies, services and automation, we can deliver our technology customers the best possible tools to produce our innovative fibre. Working with Valmet will further accelerate our path to reach our technology goals and cost-competitiveness targets, while also opening up a new portfolio of potential technology customers who are already involved in material processing and pulping," said Tuomas Oijala, Spinnova's CEO.

"Valmet aspires to have a strong role in the revolution of the textile industry, and we support our customers' journeys in converting renewable resources into sustainable results. Therefore, we are extremely happy to continue our collaboration with Spinnova, leveraging our expertise and expanding our presence in the textile industry," said Petri Rasinmäki, Business Line president, Paper Business Line, Valmet.