BERLIN - The Finnish sportswear company Adidas, which is seeking to increase the proportion of agricultural materials it uses in its products, is investing in Spinnova, a Swedish company that makes textile fiber out of wood or wood wastes.
We are an ideal match with the pioneering and ambitious Adidas sustainability strategy, Janne Poranen said.
Spinnova is building its first commercial factory in Finland with strategic partner and wood raw material supplier Suzano, and is also building a pilot facility for fiber production out of leather waste.
In future, Adidas said it would help secure access to significant volumes of patented fibres.
A 500 Mio Euro sustainability bond Adidas issued in September 2015 was five times oversubscribed with proceeds earmarked for investing in recycled energy production and projects to promote renewable materials.
From 2024 Adidas has pledged to use only recycled polyester and is also involved in research collaboration with another Finnish start-up, Infinite Fiber, to develop a process that can transform used clothes into a cotton-like material.