Aspen Aerogels, Inc. Announces Additional EV Thermal Barrier Commercial Award and Provides Update on U.S. Department of Energy Loan Application Status
NORTHBOROUGH, Mass., Dec. 5, 2023 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen" or the "Company"), a technology leader in sustainability and electrification solutions, today announced a commercial award for its PyroThin® EV Thermal Barrier segment and provided an update on its application for a loan through the U.S. Department of Energy Loan Programs Office.
- NORTHBOROUGH, Mass., Dec. 5, 2023 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen" or the "Company"), a technology leader in sustainability and electrification solutions, today announced a commercial award for its PyroThin® EV Thermal Barrier segment and provided an update on its application for a loan through the U.S. Department of Energy Loan Programs Office.
- Aspen announces an additional PyroThin vehicle platform award from The Automotive Cells Company ("ACC"), a battery cell joint venture between Stellantis N.V., Saft-TotalEnergies and Mercedes-Benz, to supply the Stellantis STLA Medium vehicle platform with an expected start of production in 2025.
- This application is in connection with the construction of Aspen's planned second aerogel manufacturing facility in Georgia.
- "The European market will drive a meaningful portion of our revenues over the next few years as we maximize our existing assets and commercial arrangements."