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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 (ASPN) reported a 37% revenue growth for Q1 2022, totaling $38.4 million, up from $28.1 million year-over-year. However, net loss widened to $19.5 million, with net loss per share at $0.59. Aspen strengthened its balance sheet through a $150 million financing from Koch Strategic Platforms and raised $23.6 million via an equity offering. The 2022 revenue outlook remains unchanged, estimating between $145 million and $155 million. Management anticipates doubling revenue from 2021 to 2023 and tripling it by 2025.
Aspen Aerogels, Inc. (NYSE: ASPN) is set to disclose its financial results for Q1 2022 on April 28, 2022, ahead of a conference call at 8:30 a.m. EDT. The call will be hosted by CEO Don Young and CFO Ricardo Rodriguez. Participants can dial in or join via a live webcast on Aspen's investor website. The company focuses on sustainability through its aerogel technology, providing solutions in thermal management for electric vehicles and energy storage, and manufacturing high-efficiency materials for the construction industry.
Aspen Aerogels, a leader in aerogel technology, announced its participation in the 39th Annual International Battery Seminar & Exhibit on March 28-31, 2022, in Orlando, FL. Vice President John Williams will present on battery safety, specifically focusing on thermal propagation. He aims to address the need for systems that stop thermal runaway in electric vehicles. Aspen will also host a booth during the event, showcasing its aerogel-based solutions for energy storage and sustainability.
Aspen Aerogels, Inc. (NYSE: ASPN) will participate in the 2nd Annual Cowen Mobility Disruption Conference on March 2, 2022. Key executives, including CEO Donald R. Young and CFO John F. Fairbanks, will be present for one-on-one meetings with institutional investors. A fireside chat hosted by Cowen analyst Jeffrey Osborne will feature Don Young at 9:00 a.m. ET on the same day. Interested parties can register for the live webcast and access a replay thereafter on Aspen's website.
Aspen Aerogels (ASPN) reported a 21% revenue growth in 2021, totaling $121.6 million, but faced a net loss of $37.1 million. Q4 revenue was $31.5 million, up from $23.0 million a year prior, yet net loss increased to $16.4 million from $6.2 million. The company anticipates 2022 revenue between $145 million and $155 million, with a projected loss of $66.7 million to $70.7 million. Aspen is expanding its manufacturing capabilities in Georgia, aiming for $1.35 billion in annual revenue capacity. They expect to double revenue by 2023 and triple it by 2025.
Aspen Aerogels announced a $150 million investment from Koch Strategic Platforms to enhance its aerogel thermal barrier growth. This investment includes $100 million in convertible notes with an initial conversion price of $34.94 per share and $50 million from the purchase of 1,791,986 shares of common stock at $27.90 each. The notes mature on February 18, 2027, and interest will be based on SOFR plus either 5.5% or 6.5%. The investment aims to support Aspen's operations and expand its market presence in sustainability-related sectors.
Aspen Aerogels (ASPN) plans to invest $325 million in a new advanced manufacturing facility in Bulloch County, Georgia, creating over 250 jobs. The facility aims to triple Aspen's aerogel production capacity to meet growing demand in the electric vehicle market. Production is expected to start in late 2023, complementing its existing Rhode Island plant. Aspen's innovative thermal barrier solutions, such as PyroThin®, are crucial for the EV sector, addressing thermal management and safety needs. The project highlights Georgia's expanding role in the electric mobility sector.
Aspen Aerogels (ASPN) will announce its fourth quarter and fiscal year 2021 results on February 17, 2022, after market close. A conference call led by CEO Don Young and CFO John Fairbanks is scheduled for the same day at 5:00 p.m. EST. Interested parties can participate by dialing 844-200-6205 or attending the live webcast on Aspen's website. The company focuses on sustainability and advanced aerogel technologies for electric vehicles and energy storage, as well as providing energy-efficient building materials.
Aspen Aerogels (NYSE: ASPN) has announced the retirement of CFO John F. Fairbanks, effective April 1, 2022, after 15 years of service. He will be succeeded by Chief Strategy Officer Ricardo C. Rodriguez, who brings extensive experience in the automotive sector. The company also highlighted recent senior leadership appointments, aiming to capitalize on growth opportunities in the electric vehicle market. President Don Young emphasized Aspen's dynamic position and ongoing recruitment of top talent to support its strategic goals in sustainability and electrification.
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