Aspen Aerogels Named Overdrive Award Winner by General Motors

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03/18/2022 - 06:30 AM

PyroThin^® Aerogel Technology Incorporated into GM's Ultium Battery Platform, Enhancing Performance and Safety

NORTHBOROUGH, Mass., March 18, 2022 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen", the "Company"), a technology leader in aerogel-based sustainability and electrification solutions, has been named an Overdrive Award winner as part of GM's 30th Annual Supplier of the Year awards. Aspen's award for Launch Excellence recognizes the Company's key role in GM's thermal propagation strategy. Aspen's industry leading PyroThin^® thermal barrier aerogel technology is integrated into GM's Ultium battery platform.

"We are deeply honored to receive this prestigious recognition from GM," said Aspen President and CEO Don Young. "The Aspen team values our deep and productive relationship with GM, and we are particularly proud to play an important role in the Ultium battery platform. For over two decades, we have leveraged our Aerogel Technology Platform™ to bring sustainability solutions into large, important markets. Aspen's focus on enhancing EV battery performance and safety is well aligned with the rapid acceleration towards an electrified future."

First presented in 2012, the Overdrive Award is a distinction reserved for suppliers who display outstanding achievement across the Global Purchasing and Supply Chain organization's key priorities. These include sustainability, innovation, relationships, total enterprise cost, launch excellence and safety. Aspen was one of 31 companies to earn an Overdrive Award for 2021. GM celebrated honorees at an awards ceremony in Phoenix, Arizona, earlier this week.

"This year's Supplier of the Year event was special not only because it's the 30th anniversary of the program, but because it provided us with the opportunity to recognize our suppliers for persevering through one of the most challenging years the industry has ever faced," said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain. "These top suppliers showed resilience and reinforced their commitment to pursuing sustainability and innovation. Through our strong relationships and collaboration, GM and our suppliers are poised to build a brighter future for generations to come."

A global cross functional team selected the 2021 Supplier of the Year and Overdrive Award winners based on performance criteria in Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales and Logistics.

About Aspen Aerogels' PyroThin® Thermal Barriers
PyroThin^® is an ultrathin, lightweight, high-temperature thermal insulation and fire barrier engineered to mitigate thermal runaway propagation at cell-to-cell, module, and pack barrier level. PyroThin's flexible and robust format accommodates a lithium-ion battery's daily breathing and progressive swelling as it ages. Even at the end-of-life, PyroThin has sufficient thermal resistance to mitigate thermal propagation. Use of PyroThin thermal barriers in lithium-ion battery packs helps automotive manufacturers meet critical safety goals without sacrificing drive range. PyroThin's aerogel technology evolved from more than two decades of thermal protection development in energy infrastructure, chemical processing, and transportation applications, including internal combustion engine and electric vehicle platforms. To learn more about PyroThin aerogel technology, please visit https://www.aerogel.com/product/pyrothin/.

About Aspen Aerogels, Inc.
Aspen is a technology leader in sustainability. The Company's aerogel technology enables its customers and partners to achieve their own objectives around the global megatrends of resource efficiency, electrification and sustainability. Aspen's PyroThin^® thermal barrier products enable solutions to thermal runaway challenges within the electric vehicle and energy storage markets. The Company's carbon aerogel program seeks to increase the performance of lithium-ion battery cells to enable EV manufacturers to extend the driving range and reduce the cost of electric vehicles. Aspen's Spaceloft^® sustainable building materials provide industry-leading energy efficiency and fire safety to building owners. The Company's Cryogel^® and Pyrogel^® products are valued by the world's largest energy infrastructure companies. Aspen's strategy is to partner with world-class industry leaders to leverage its Aerogel Technology Platform™ into additional high-value markets. Headquartered in Northborough, MA, Aspen manufactures its products at its East Providence, R.I. facilities. For more information, please visit www.aerogel.com.

About General Motors
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.