Woodspin Oy, the producer and seller of the sustainable wood-based SPINNOVA® fibre and the global sports brand PUMA SE have signed a Letter of Intent (LOI) to secure access to fibre volumes for several years. Woodspin is a joint venture company of Spinnova and Suzano.

The LOI is a non-binding agreement for booking volumes of wood-based SPINNOVA® fibre from Woodspin.

Spinnova and PUMA will collaborate to develop products from SPINNOVA® fibre for future collections, particularly in products of PUMA's Sportstyle category.

"We are very excited to announce an LOI for SPINNOVA® fibre with a major global brand like PUMA. This marks an important step in building the market and industrial adoption of SPINNOVA® fibre, which is needed to scale the fibre and Spinnova's technology," comments Shahriare Mahmood, Spinnova's Chief Product and Sustainability Officer.

"This partnership with PUMA showcases the potential of sustainably sourced and renewable raw material to transform the fashion industry by inspiring and empowering people to make more sustainable choices," says Jari Aittakari, Woodspin's Sales Director.

"Spinnova's innovative fibre technology represents a new gateway into the world of

manmade cellulosic fibre (MMCF) production, using water instead of chemicals to help

produce these fibres," says Howard Williams, Director Global Innovation Apparel & Accessories at PUMA