Aspen Aerogels was founded in 2001 and went public in 2014, manufacturing aerogels at a plant in Rhode Island, with c300 employees, $100M revenues (in 2020) and an installed base of $1bn of materials.
Its products are aerogels, with thermal conductivities that are 30-80% below conventional insulators. Target markets include preventing thermal runaway in electric vehicle batteries and cryogenic industrial processes (e.g., LNG).
We have reviewed Aspen’s recent patents in this data-file. This data-file notes some challenges, using our usual patent review framework.