Aspen [NYSE: ASPN] Shares Update on BASF Supply Arrangement

Aspen Aerogels, Inc. [NYSE: ASPN] has shared the update on the execution of its supply arrangement with BASF Polyurethanes (BASF), which was earlier announced in Aspen’s Form 10-Q filed November 4, 2021, and updated in a Form 8-K filing by the Company dated December 27, 2021.

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Aspen has pledged to offer world-class service to the sustainable building market. The company has full confidence that it is well-positioned to advance its Spaceloft products to architects and building engineers around the globe. Aspen and BASF have joined forces to effect an agreement whereby Aspen would be entirely responsible for future development and marketing of the Company’s Spaceloft A2 insulation product in sustainable building materials and other markets since October 2021.

Furthermore, Aspen has taken primary control of the marketing of Spaceloft A2 with the completion of the supply agreement amendment. Aspen’s Spaceloft A2 non-combustible insulation solution is aimed at the worldwide building materials industry, offering superior thermal management and fire safety as a value proposition.

In addition, the company is putting a lot of money into its Aerogel Technology Platform, with an emphasis on thermal control and fire safety. These characteristics are important demand drivers in the electric vehicle and energy infrastructure businesses, and they also apply to its environmentally friendly building materials.