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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 (NYSE: ASPN) announced a definitive securities purchase agreement to sell $75 million in common stock to Koch Strategic Platforms (KSP). Aspen will issue 3,462,124 shares at $21.663 per share, with the transaction expected to close on June 30, 2021. This investment aims to support Aspen's growth in high-value applications like electric vehicle thermal barriers and energy infrastructure products. Aspen's CEO expressed optimism about doubling revenue every two years through the upcoming decade.
Aspen Aerogels, Inc. (NYSE: ASPN) announced that CEO Donald R. Young will participate in the Water Tower Research Fireside Chat on June 10, 2021, at 3:00 p.m. ET. The chat, moderated by Shawn Severson, will focus on Aspen's growth opportunities in the Energy Infrastructure market. Participants can register for the live audio webcast or access a replay on Aspen's website. Aspen is recognized for its sustainable aerogel technology, which supports energy efficiency and clean energy goals across various industries, including electric vehicles.
Aspen Aerogels (NYSE: ASPN) will participate in a fireside chat at the 49th Annual Cowen Technology, Media & Telecom Conference on June 3, 2021, at 9:10 a.m. Eastern Time. The chat will feature President and CEO Donald R. Young and VP, CFO, and Treasurer John F. Fairbanks. Live audio registration is available here and on the Investors section of Aspen’s website. A replay will be available post-event.
Aspen Aerogels (NYSE: ASPN) will present at the 16th Annual Needham Technology & Media Conference on May 20, 2021, at 2:15 p.m. Eastern Time. The presentation will be led by CEO Donald R. Young and CFO John F. Fairbanks. Interested parties can register for the live audio webcast here. A replay will be available on the company's Investors section of their website after the event.
Aspen Aerogels, Inc. (NYSE: ASPN) announced that President and CEO Donald R. Young will participate in the Water Tower Research Fireside Chat Series on May 18, 2021, at 2:00 p.m. Eastern Time. Young will discuss Aspen's PyroThinTM product growth opportunities in electric vehicles and will answer participant questions. Registration for the live webcast is available on Aspen's website, with a replay to be posted afterward. Aspen is recognized for its sustainability leadership and innovative aerogel technology aimed at enhancing efficiency in e-mobility and clean energy.
Aspen Aerogels, Inc. (NYSE: ASPN) has initiated a patent infringement lawsuit against AMA S.p.A. and AMA Composites S.r.l. in Genoa, Italy, concerning the import and sale of aerogel products from China. The company claims that AMA violates several of its patents, previously upheld in Germany. Aspen seeks monetary damages and an injunction against AMA's operations. President and CEO Donald R. Young emphasized the company's commitment to enforcing its intellectual property rights globally, citing consistent validation of its patents in various jurisdictions.
Aspen Aerogels reported Q1 2021 revenue of $28.1 million, slightly down from $28.4 million year-over-year. The company experienced a net loss of $6.3 million, increasing from $3.2 million in Q1 2020, with a net loss per share of $0.22 compared to $0.13. Adjusted EBITDA was ($2.6) million, a decline from $0.5 million in the prior year. The company plans to invest an additional $10 million in e-mobility and $18 million for facility expansion, expecting total revenue for 2021 to be between $103 million and $111 million.
Aspen Aerogels announced a conference call on April 29, 2021, at 5:00 p.m. EDT, to discuss its financial results for the first quarter ended March 31, 2021. The financial results will be released on the same day following market close. Interested parties can join the call via phone or listen through a live webcast on the company's website. Aspen is known for its innovative aerogel technology, contributing to sustainability in electric vehicles and energy efficiency.
Aspen Aerogels (NYSE: ASPN) will participate in the Water Tower Research Fireside Chat Series on March 25, 2021, at 2:00 p.m. ET, featuring CEO Donald R. Young. The chat, moderated by Shawn Severson, will cover Aspen's strategic market opportunities, particularly in the electric vehicle sector. Participants can register for the live audio webcast here. A replay will also be available on Aspen's website.
Aspen Aerogels (ASPN) reported a Q4 2020 revenue of $23.0 million, down from $46.5 million YoY, with a net loss of $6.2 million. For the full year, revenues totaled $100.3 million, a decline from $139.4 million in 2019, with a net loss of $21.8 million. The company anticipates 2021 revenue between $100.0 million and $108.0 million, projecting a net loss between $21.0 million and $25.0 million. Aspen aims to increase investment in electric vehicle markets by $6.0 million in 2021, despite expecting continued impact from COVID-19 on demand for its products.
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