Spinnova, a Finnish sustainable textile fiber producer, has secured a EUR 1.9 million (~USD 2.1 million) grant from Business Finland for its sustainable textile manufacturing technology. The grant represents half of the EUR 3.9 million (~USD 4.3 million) cost allocated for the company's product development project, which aims for pilot-scale production of Spoinnova's fiber made from textile and agricultural waste.

The grant will be used for research and development efforts while supporting the development of the pilot-scale project. The project also aims to expand Spinnova's technology offering by adding refining and fiber-recycling components to be used by the company’s factories. 

Analyst QuickTake: Spinnova is actively taking necessary steps toward upgrading and commercializing its technology. Last year, the company secured a EUR 1.6 (~USD 1.6 million) million grant for R&D projects, with a focus on developing new applications such as composites and non-wovens, as well as "dope-dye" technology to dye fibers prior to yarn production. In June this year, the company also partnered with Tearfil to operate Spinnova's R&D yarn-spinning line and streamline production.