Finnish company Spinnova, which makes fibers, has been given a grant by Business Finland for research and development (R&D). The amount is up to €1.9 million ($2.07 million). They want to make fibers from waste.

Spinnova says they want to do more with their technology. They want to add new ways of refining and recycling fibers. This can help factories that make Spinnova fibers.

The project is about making fibers from waste materials like textiles and things from farms. They want to try this on a small scale first.

They also want to create a place where they can make the fibers even better. And this place could also help recycle the fibers.

Spinnova believes this will help them grow their business in new ways. They also believe that making fibers in a way that uses less energy will make their fibers even better and more competitive.

“Business Finland’s grant supports our development work to become even more sustainable and competitive by being able to offer technology that can process multiple circular raw materials into a textile fibre,” said Spinnova’s chief technology officer and co-founder Juha Salmela.

The grant will help the project from April 15, 2023, to April 14, 2025. It will pay for half of the project's total cost, which is about €3.9 million.

Spinnova, the Finnish company that makes fibers, is also working to make the clothing industry more sustainable. They recently announced their plans to make more textile fibers from wood that's grown responsibly. These fibers can be recycled and will naturally break down over time.