In the financial year 2021 (FY2021), Spin-nova's revenue reached € 6.06 million (FY2020: € 254,000). During this period, the vast majority of the revenue was derived from the technology delivery project to Spinnova's joint venture (JV) company, Woodspin, and delivery of a technology proof-of-concept project to Spinnova's joint venture company, Respin. The remainder of the revenue during the period and all revenue in 2020 consisted primarily of proof-of-concept related RD services and development projects provided by Spinnova Oy, Jyv?skyl?/Finland, to brand partners under joint development agreements. Operating loss for the period was € 4.08 million (2020: € 3.48 million) and total investments were €4.37 million (2020: €3.67 million).
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