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Why major brands like Adidas, LVMH are backing sustainable textile startups

Spinnova, a Finnish sustainable textile fibre business, has listed on the Nasdaq Helsinki First North Growth Market after raising more than €100 million in an initial public offering, including €3 million from Adidas.  Launched in 2014, Spinnova makes textile fibre out of raw materials, such as wood and textile, leather and food waste, in a process that doesn’t use any harmful chemicals or produce any waste or side streams.  H&M invested €22 million in the company earlier this