Adidas invests in Spinnova, a sustainable fiber company

Adidas is investing in Spinnova, a Finnish company that produces fiber out of sustainable materials such as wood or agricultural waste. The German sportswear company invested 3 million euros of shares in the sustainable fiber firm. This brought the company’s total secured investment to 58 million euros.

Spinnova is building their first commercial factory in Finland with Suzano, their partner and wood raw material supplier. They are currently also building a pilot facility to produce fiber out of leather waste. They also confirmed that Adidas wanted to secure the access to a load of their patented product in the future.

Adidas has vowed to shift to using recycled polyester only in 2024. They are also involved with Infinite Fiber, a Finnish start-up, in developing a process to transform used clothes into cotton-like material.