Aspen Aerogels

Name

Aspen Aerogels

Legal name

Aspen Aerogels, Inc.

Website

https://aerogel.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Advanced Industrial Insulation Materials

NAICS

Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing (3252)

SIC

Steam & Air-Conditioning Supply (4961)

akta.pro primary industry

Aerogel & Vacuum Insulation Panels (VIPs) (IMADAGAG)

akta.pro secondary industries

Insulation & Air/Vapor Barrier Systems (Thermal, Acoustic, WRB/AVB) (IMAFAMAD), Aerospace Thermal Management, Insulation & Fire Protection Materials (IMABANAE)

Keywords

• Aerogel insulation products
• Thermal management solutions
• Industrial insulation materials
• EV battery thermal barriers
• Cryogenic insulation systems

Headquarters

HQ city

Northborough

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Aerogel Insulation Product Sales: Revenue generated from the sale of aerogel-based insulation products including Pyrogel (high temperature), Cryogel Z (cryogenic), Spaceloft Subsea, and PyroThin (EV thermal barriers). Products are sold directly to industrial end-users, contractors, and automotive OEMs. Q1 2026 revenue of $37.9M, Q4 2025 revenue of $41.3M, FY2025 full year revenue of $271.1M.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Aspen Aerogels engineers, manufactures, and sells aerogel-based insulation blankets and barriers. Its portfolio includes Pyrogel (high-temperature industrial insulation), Cryogel Z (cryogenic/sub-ambient insulation), Spaceloft Subsea (subsea pipeline insulation), and PyroThin (ultra-thin thermal runaway barriers for EV battery packs). Products are sold to energy infrastructure operators, industrial end-users, contractors, and automotive OEMs.

Product overview

Aspen Aerogels is a technology company that engineers, manufactures, and commercializes aerogel-based insulation solutions. The company's product portfolio is organized around its proprietary Aerogel Technology Platform and consists of several product families: the Pyrogel brand (including Pyrogel XTE, Pyrogel HPS, and Pyrogel XTF) for high-temperature industrial insulation applications such as refining, petrochemical, and power generation; Cryogel Z for cryogenic and LNG applications; Spaceloft Subsea for underwater pipeline insulation; and PyroThin for electric vehicle battery thermal runaway protection. These products serve diverse industries including energy infrastructure, e-mobility, and battery energy storage systems.

Differentiator

Problem solved

Functional benefit

Brands

• PyroThin®: Extremely thin, lightweight thermal runaway barrier for electric vehicle battery packs helping OEMs meet performance and safety requirements.
• Cryogel®
• Spaceloft® Subsea
• Pyrogel®

Products and services

• Pyrogel XTE High-temperature aerogel insulation blanket with industry-leading defense against corrosion under insulation (CUI), leveraging patented technology for extremely low thermal conductivity. Used in refining, petrochemical, FPSO, and power plant applications.
• Pyrogel HPS High-temperature industrial insulation engineered for harsh environments such as delayed coking and high-energy piping, achieving extremely low thermal conductivity while being up to 75% thinner than competing insulation materials.
• Pyrogel XTF Combined passive fire protection and thermal insulation for high-temperature industrial applications, providing class-leading corrosion under fireproofing (CUF) defense along with hydrocarbon pool-fire and jet fire protection.
• Cryogel Z Flexible aerogel industrial insulation for cryogenic and sub-ambient applications, offering protection against cold splash, jet fire, and acoustic attenuation in an ultrathin, lightweight package with an integral vapor barrier. Specified in nearly 50 major LNG liquefaction and regasification projects.
• Spaceloft Subsea Flexible thermal aerogel insulation engineered for subsea pipelines, maintaining flow assurance in the harshest deep water environments with over 20 years of subsea project experience and an install base of more than 1,497 km.
• PyroThin Extremely thin, lightweight thermal runaway barrier for electric vehicle battery packs, helping OEMs meet performance and safety requirements at cell, module, and pack level while enabling maximum volumetric cell-to-pack ratio. Meets China GB38031 and UN ECE R100 safety standards.

Quantifiable outcome

• Subsea install base exceeding 1,497 km with over 20 years of experience
• +5 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Volvo CarscoreStrategic or Co-development Partner · 1 January 2025Volvo Cars confirmed as the OEM for a specific EV award using Aspen's PyroThin thermal barrier products. The award is tied to 2027 vehicle launches with expansion potential exceeding $450M by 2028. Represents a core component of Aspen's European EV strategy.

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Johns Manville (Berkshire Hathaway): Johns Manville produces fiberglass, mineral wool, and other insulation products for industrial, commercial, and residential construction. Comparable to Aspen's Pyrogel and Cryogel lines as an established industrial insulation supplier across refining, petrochemical, and HVAC applications.
• Knauf Insulation: Knauf Insulation is a global manufacturer of glass and rock mineral wool insulation serving industrial, commercial, and residential markets. A broad incumbent competing with Aspen for industrial and building-envelope insulation specification.
• Kingspan Group: Kingspan manufactures insulated panels, building envelope systems, and high-performance rigid insulation that compete with Aspen's industrial and building envelope offerings. Comparable as a major insulation/building products incumbent operating at scale.
• Owens Corning: Owens Corning produces glass fiber and mineral wool insulation for residential, commercial, and industrial buildings, with a thermal insulation portfolio overlapping the building-envelope applications for Aspen's insulation blankets. Comparable on industrial/commercial building specification work.
• 3M Company: 3M's industrial adhesives and thermal management materials portfolio overlaps with Aspen's role in OEM thermal management for electronics, batteries, and industrial equipment. Comparable as a broad specialty materials incumbent serving automotive and industrial OEMs.
• Armacell: Armacell is a global manufacturer of flexible elastomeric and PET foam insulation for HVAC, refrigeration, and industrial applications, comparable to Aspen's industrial insulation offering though it specializes in mechanical and HVAC insulation rather than aerogel. It competes on installed cost and represents an alternative to Cryogel Z and Pyrogel in many projects.
• Rockwool International: Rockwool is a leading manufacturer of stone wool insulation for building envelopes, industrial, and HVAC applications. While it does not produce aerogel, it competes with Aspen on a like-for-like basis for high-temperature and acoustic industrial insulation specification.

Direct peers

• Alkegen (Unifrax): Alkegen's Unifrax division manufactures high-temperature insulation blankets, passive fire protection, and specialty filtration media that compete directly with Pyrogel XTE/HPS/XTF for refining, petrochemical, and power-generation applications. It is one of Aspen's principal substitutes in industrial insulation.
• Cabot Corporation: Cabot produces ENOVA aerogel, the most direct competitive product to Aspen's Pyrogel and Cryogel lines for high-temperature and cryogenic industrial insulation. The two companies compete head-to-head for energy industrial and LNG project specifications globally.

Others

• BASF: BASF was an early investor in Aspen (BASF Venture Capital participated in 2010 and 2012 funding rounds) and continues to operate in advanced materials and specialty chemicals adjacent to aerogel synthesis. Comparable as a strategic/financial counterparty in aerogel materials rather than a direct aerogel blanket competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/aspenaerogels
• Facebookfacebook.com/aspenaerogels
• LinkedInlinkedin.com/company/aspen-aerogels

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds19 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aspen Aerogels