Explainer: What do next-gen fibre makers need to succeed?

Spinnova, a next-gen fibre maker, reported a decrease in revenue for the first half of 2024 compared to the previous year. The company aims to be EBIT positive in the medium term and does not expect to require additional external funding. Spinnova has focused on selling its fibre technology to raw material partners and downstream textile manufacturers. The challenges faced by sustainable material companies include higher costs compared to standard fabrics and the need to demonstrate scalability and concrete commercial benefits. Consumers may not necessarily pay a price premium for sustainable apparel products, but the fashion industry's push for sustainability and circularity is an irreversible long-term trend. [Extracted from the article]