Spinnova signs Letter of Intent with Outlast to develop SPINNOVA® fibre for insulation and temperature regulation

Spinnova Plc (“Spinnova” or the “company”) (Nasdaq First North Growth Market Finland: SPINN), a materials technology company producing textile fibre from side streams and wood pulp, today announced that it has signed a non-binding letter of intent (“LOI”) with Outlast Technologies GmbH (“Outlast”). Outlast is a Germany-based specialist in temperature regulation and insulation technologies, and the LOI aims to explore the development of high-performance textile materials combining SPINNOVA® fibre with Outlast’s technologies.

The collaboration could expand the potential applications of SPINNOVA® fibre into higher-value technical textiles, including performance apparel and insulation, where temperature regulation and comfort are key product requirements. SPINNOVA® fibre is produced with a mechanical process without harmful chemicals or dissolving, while Outlast® Temperature Regulation brings established temperature-regulation technology based on innovations originally developed for NASA. This technology uses phase change materials (“PCMs”) to absorb, store, and release heat, while Outlast’s AERSULATE® aerogel technology provides effective insulation in lightweight, thin materials.

Together, the companies will explore whether these technologies can be combined to create differentiated textile materials.

“We want SPINNOVA® fibre to compete on performance as well as natural comfort,” says Mikko Lassila, Chief Commercial Officer of Spinnova. “Outlast brings established technologies for temperature regulation and insulation, and this collaboration gives us an opportunity to explore how they can be combined with our fibre. If successful, we believe this could open new applications for SPINNOVA® fibre, broaden our addressable markets, and support our long-term commercial scale-up strategy.”

“SPINNOVA® fibre presents an interesting opportunity to explore new applications for our functional technologies,” says Martin Bentz, Chief Executive Officer of Outlast. “We look forward to evaluating how our temperature regulation and insulation solutions can be combined with Spinnova’s fibre to create differentiated materials that meet the performance requirements of our customers.”

For further information, please contact:
Mikko Lassila, Chief Commercial Officer
Tel. +358 20 703 2430
ir@spinnova.fi

U.S. Investor Relations:
Chris Tyson
MZ Group
Direct: 949-491-8235
SPINN@mzgroup.us

About Spinnova

The textile material innovation

Spinnova technology transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed a breakthrough patented technology for making textile fibre out of wood pulp or waste, such as leather, textile, or agricultural cropping waste, without harmful chemicals or dissolving.

Spinnova technology creates no side streams in the fibre production process, and the SPINNOVA® fibre has minimal CO2 emissions and water use, as well as being biodegradable and recyclable. Spinnova technology uses a mechanical process which gives the fibre the look and feel of a natural cellulosic fibre such as cotton.

Spinnova’s shares (SPINN) are listed on the Nasdaq First North Growth Market Finland.

SPINNOVA® home: www.spinnova.com
Corporate & IR site: www.spinnovagroup.com

About Outlast

Outlast Technologies GmbH, headquartered in Heidenheim, Germany, develops temperature-regulating and insulating technologies for textiles, including Outlast® Temperature Regulation and Aersulate® aerogel insulation. Its technologies are protected by more than 50 patents and are used across bedding, apparel, footwear, outdoor, workwear, protective wear and home textiles. To learn more, please visit outlast.com.