Welcome to our dedicated page for Aspen Aerogels news (Ticker: ASPN), a resource for investors and traders seeking the latest updates and insights on Aspen Aerogels stock.
Aspen Aerogels, Inc. (NYSE: ASPN) is a leading technology company specializing in advanced aerogel insulation solutions. Its core products provide unparalleled thermal performance, significantly outperforming traditional insulation materials. Aspen's flexible aerogel insulation products are used across various industries, including oil and gas, LNG shipping and storage, building and construction, outdoor apparel, appliances, transportation, and military and aerospace.
The company's innovative product line includes Pyrogel® and Cryogel®, which are renowned for their superior insulation properties, and Spaceloft®, which offers industry-leading energy efficiency and fire safety for buildings. Aspen's PyroThin® technology addresses critical thermal runaway challenges in the electric vehicle (EV) market, enhancing the safety and performance of lithium-ion battery cells. Aspen Battery Materials, the company’s carbon aerogel initiative, aims to boost the effectiveness of these cells, enabling longer driving ranges and reduced costs for EV manufacturers.
Headquartered in Northborough, Massachusetts, Aspen Aerogels operates manufacturing facilities in East Providence, Rhode Island, and engages in extensive research and development activities. The company collaborates with leading industry partners to expand the applications of its Aerogel Technology Platform® into new high-value markets.
Recent business highlights show the company's robust growth trajectory. In the third quarter of 2023, Aspen reported total revenue of $60.8 million, a significant increase from the previous year. The company's strategic focus on the EV market has resulted in notable commercial success, with its EV Thermal Barrier revenues more than doubling compared to the prior quarter. Aspen anticipates continued demand growth and aims to secure multiple OEM awards by the end of 2023.
The financial outlook for 2023 and beyond remains positive, with expectations for increased revenue and improved profitability driven by strong demand from both the Energy Industrial and EV markets. Aspen's commitment to sustainability and resource efficiency underpins its strategic initiatives, positioning the company as a key player in the global push towards clean energy and e-mobility.
For more information, visit Aspen Aerogels' website at www.aerogel.com or follow them on social media for the latest updates.
Aspen Aerogels, Inc. (NYSE: ASPN) announced its participation in three investor conferences in May 2023. The events include the 8th Annual Oppenheimer Emerging Growth Conference on May 11, where CEO Donald R. Young and CFO Ricardo C. Rodriguez will host one-on-one meetings. The Seaport Growth Discovery Conference follows on May 12, featuring a Fireside Chat moderated by Tom Curran at 2:00 PM ET. Finally, Aspen will participate in the 23rd Annual B. Riley Institutional Investor Conference on May 24-25 in Beverly Hills, CA, including another Fireside Chat on May 24 at 10:30 AM PT. Presentation materials will be available on Aspen's Investor Relations website.
Aspen Aerogels has filed patent infringement and unfair trade practices actions against Beerenberg and its affiliates in Korea for allegedly infringing on Aspen's aerogel patents. The complaint, lodged in the Seoul Central District Court and the Korea Trade Commission, includes claims related to high-performance aerogel compositions. Aspen is seeking both injunctive relief and monetary damages. This legal action is part of Aspen's broader strategy to enforce its intellectual property rights globally, having successfully done so in the U.S. and Europe against Chinese manufacturers. The company aims to protect its proprietary Aerogel Technology Platform while expanding its market presence.
FAQ
What is the current stock price of Aspen Aerogels (ASPN)?
What is the market cap of Aspen Aerogels (ASPN)?
What does Aspen Aerogels, Inc. specialize in?
Which industries use Aspen Aerogels' products?
What are some of Aspen Aerogels' key products?
How does Aspen Aerogels contribute to the electric vehicle market?
Where is Aspen Aerogels headquartered?
What was Aspen Aerogels' revenue for the third quarter of 2023?
What financial outlook does Aspen Aerogels have for 2023?
How can I contact Aspen Aerogels for product inquiries?
Does Aspen Aerogels engage in research and development?
What recent achievements has Aspen Aerogels made in the EV market?
