Aspen Aerogels Inc.

Company Overview

Founded in 2001 and headquartered in Northborough, Mass., Aspen Aerogels Inc. designs, develops, manufactures and sells aerogel insulation products, primarily for use in the energy infrastructure and sustainable insulation materials markets in the U.S., the Asia-Pacific region, Canada, Europe and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to protect against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production. It also offers Spaceloft Grey and Spaceloft A2 for use in the sustainable insulation materials market; and Cryogel X201 is used in designing cold systems, such as refrigerated appliances, cold storage equipment and aerospace systems. Aspen’s strategy is to partner with world-class industry leaders to leverage its Aerogel Technology Platform into additional high-value markets.

Financial Highlights (FY 2024)

Company's Business Segments

• Energy Industrial : This segment Design, Develop, Manufacture Innovative, High-performance Aerogel Insulation used primarily in the Energy Industrial, Sustainable Insulation markets.
• Thermal Barrier : This segment is Developing a number of promising Aerogel products and technologies for the EV market.