Brief: Spinnova, Ecco Sign LOI Regarding Plans For JV Company Respin

Spinnova Oyj

30/07/2024 07:34

July 30 (Reuters) - Spinnova Oyj  SPINN.HE :
    * INSIDE INFORMATION: SPINNOVA AND ECCO HAVE SIGNED A LETTER
OF
INTENT REGARDING PLANS FOR THEIR JOINT VENTURE COMPANY RESPIN
    * PRODUCT LAUNCH BY ECCO, USING FIBRE PRODUCED BY RESPIN, IS
EXPECTED TO TAKE PLACE BEFORE END OF Q1/2025
    * SPINNOVA WILL BE TECHNOLOGY PROVIDER FOR ANY PRODUCTION
SCALE-UP
    * DOES NOT ITSELF EXPECT TO RAISE FURTHER EXTERNAL FINANCING
TO
FUND INCREASE IN RESPIN'S PRODUCTION CAPACITY

Source text for Eikon:  ID:nWkr722SL5 
Further company coverage:  SPINN.HE 

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