Aspen Air US

Name

Aspen Air US

Legal name

Aspen Air US LLC

Website

https://aspenairllc.com

Company type

Private

Founded year

2006

Operating status

Operating

Short description

Aspen Air US LLC operates Montana's only air separation plant in Billings, producing and distributing bulk liquid Oxygen, Nitrogen, Argon, and Helium to medical, industrial, oilfield, agricultural, and manufacturing customers across Montana, Wyoming, North Dakota, and South Dakota.

Ownership category

akta.pro rank

NAICS

Industrial Gas Manufacturing (32512), Industrial Gas Manufacturing (325120)

akta.pro primary industry

Air Separation (Oxygen/Nitrogen/Argon) (IMAEACAA)

Keywords

• Industrial gas supply
• Bulk liquid oxygen
• Liquid nitrogen distribution
• Air separation plant
• Cryogenic gas production

Headquarters

HQ city

Billings

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Industrial Gas Production and Distribution: Production and distribution of bulk liquid Oxygen, Nitrogen, Argon, and Helium gas to industrial, medical, and commercial customers; serves medical, welding, food, oil & gas, refining, high tech, chemical, paper and other industrial sectors

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Aspen Air US LLC operates Montana's only air separation plant in Billings, MT, producing bulk liquid Oxygen, Nitrogen, and Argon via cryogenic air separation, and supplies Helium gas. It distributes these industrial and medical gases via a dedicated fleet across Montana, Wyoming, North Dakota, and South Dakota, complemented by cryogenic liquid storage (tank rent/lease/purchase, micro-bulk systems), telemetry monitoring with automatic refill dispatch for priority accounts, and an online order entry and tracking platform.

Product overview

Aspen Air US LLC operates as Montana's only air separation plant, producing and distributing four core industrial gases: Liquid Oxygen, Liquid Nitrogen, Liquid Argon, and Helium gas. The company operates a single unified product model where gases serve as the core offerings, supported by complementary service pillars: Liquid Storage (tank rental, lease, and purchase options including micro-bulk systems) and Distribution (dedicated fleet delivery with telemetry monitoring and an online order/tracking platform). The product portfolio targets a wide range of industries including medical/healthcare, food processing, metal fabrication/welding, oil field services, wastewater treatment, agriculture, refining, high-tech/semiconductor, chemical processing, and paper/pulp. Services are delivered across Montana, Wyoming, North Dakota, and South Dakota from the Billings, MT facility.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• More than doubled nitrogen and oxygen production capacity with 2013 facility expansion
• +1 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Air Products and Chemicals: Global industrial gas major with merchant liquid O2/N2/Ar/He production and broad U.S. distribution. Overlaps directly with Aspen Air's bulk liquid gas and onsite delivery model across medical, refining, and manufacturing end markets, though at vastly larger scale.
• Messer Americas: Fourth-largest U.S. industrial gas producer with cryogenic air separation and merchant delivery of O2/N2/Ar/He/CO2 across the Americas. Competes head-to-head with Aspen Air's bulk-gas value proposition in industrial, medical, and food-processing accounts.
• Air Liquide USA: U.S. subsidiary of Air Liquide, producing and distributing merchant industrial and medical gases via cryogenic ASUs nationwide. Directly comparable core offering to Aspen Air — bulk O2/N2/Ar with medical, food, and industrial gas applications — though operating at global scale with many redundant plants.
• Iwatani Corporation: Japan-headquartered parent of Aspen Air's acquirer (Iwatani Corporation of America) and one of the world's leading industrial gas companies, with strong U.S. helium and hydrogen franchises. Comparable core air-separation/gas-distribution business, now effectively Aspen Air's strategic parent and platform for further North American roll-up.
• Linde plc: World's largest industrial gases company, operating ASU-based merchant supply of oxygen, nitrogen, argon, and helium across all U.S. regions. Comparable bulk-gas product portfolio and customer verticals, serving as both competitor and benchmark for regional players like Aspen Air.

Direct peers

• nexAir: Regional industrial gas distributor and welding supply company operating across the Midsouth and Southeast US with bulk liquid gas, micro-bulk, cylinder, and telemetry services. Directly comparable to Aspen Air in business model (bulk ASU + distribution + tank rental) and customer mix across healthcare, manufacturing, and energy.
• Continental Carbonic Products: U.S. producer and distributor of liquid CO2, dry ice, and complementary industrial gases (nitrogen, oxygen) with regional production and distribution. Comparable regional ASU/distributor model targeting food processing, water treatment, and industrial accounts — direct mid-market peer to Aspen Air.
• MATHESON (Nippon Sanso Holdings): U.S. industrial gas subsidiary of Nippon Sanso Holdings, operating ASUs and merchant bulk/cylinder distribution across multiple U.S. regions. Highly comparable bulk-gas product set, telemetry offerings, and end-market mix to Aspen Air, including medical oxygen and welding gases.

Regional players

• Weldstar: Midwestern U.S. independent distributor of industrial gases (O2/N2/Ar), welding supplies, and gas equipment with bulk delivery and micro-bulk solutions. Highly comparable business model to Aspen Air's tank rental, micro-bulk, and bulk delivery model, though operating primarily in Illinois/Midwest rather than Mountain West.
• Rocky Mountain Air Solutions: Regional industrial and medical gas distributor serving Colorado, Wyoming, Utah, and neighboring Mountain West states with bulk liquid O2/N2/Ar and cylinder gases. Geographic adjacency and overlapping product portfolio make it a direct regional competitor to Aspen Air in the MT/WY/CO corridor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 Air US