Spinnova and ECCO: Plans for joint venture company Respin Oy
Spinnova Plc and ECCO Investment Corporation have signed a Letter of Intent (LOI) regarding the future plans for their 50/50 owned joint venture company Respin Oy. The development work of Respin’s leather waste-based fibre has shown good quality results during the current year. ECCO has successfully made a prototype shoe, which includes fibre from the Respin pilot line produced using Spinnova technology. A product launch by ECCO, using the fibre produced by Respin, is expected to take place before the end of Q1/2025.
Spinnova and ECCO see significant opportunities in scaling up Respin’s production volumes to a commercial level. According to the LOI, both parties are committed to scaling up operations and will work together in order to achieve a final decision, at the latest, by the end of Q1/2025 on how to proceed with the production scaling and commercialisation of Respin.
In line with Spinnova’s strategy and the Respin joint venture agreement, Spinnova will be the technology provider for any production scale-up. Furthermore, as stated in Spinnova’s strategy, Spinnova does not itself expect to raise further external financing to fund the increase in Respin’s production capacity.