Aspen Aerogels, Inc.
aerogel.comWhat Do They Do?
Sells aerogel thermal barriers for electric-vehicle battery packs to automakers and battery manufacturers, plus aerogel insulation for industrial energy facilities.
10-K for FY2025, filed Mar 13, 2026We have developed a number of promising aerogel products and technologies for the EV market, including our proprietary line of PyroThin…View ↗
We have entered into multi-year production contracts with a number of automotive EV original equipment manufacturer (OEM) customers to…View ↗
We design, develop and manufacture innovative, high-performance aerogel insulation used primarily in the energy industrial market. We…View ↗
December 31, 2025 U.S. International Total (In thousands) Geographical region Asia $ — $ 31,129 $ 31,129 Canada — 2,466 2,466 Europe —…View ↗
Who Are Their Customers?
Automakers and battery makers buy thermal barriers through purchase orders. Energy-industry distributors and contractors stock or install insulation, while Aspen sells directly to some contractors, fabricators and end users.
10-K for FY2025, filed Mar 13, 2026Our customers in the evolving EV and energy storage markets include EV manufacturers, Tier 1 automotive suppliers, lithium-ion battery…View ↗
We typically supply thermal barrier products to our automotive OEM customers through purchase orders, which are generally governed by…View ↗
Our primary customers in the energy industrial market are distributors, installation contractors, and fabricators that stock, install, and…View ↗
Distributors: We currently operate through a global network of insulation distributors. In general, insulation distributors stock, sell…View ↗
Contractors: We currently sell directly to a number of insulation contractors under project specific contracts or general purchase orders.…View ↗
Fabricators: We currently sell directly to a small network of fabricators that design, customize, and manufacture insulation components and…View ↗
10-K for FY2025, filed Mar 13, 2026
For the year ended December 31, 2025, two customers represented 59% and 9% of total revenue, respectively. For the year ended December 31…View ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
−$23.3MView ↗
- ▲ +157% (Loss)
- vs −$9.1M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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May 18, 2026
Company announced a staged restart at East Providence
Sources
8-K, filed May 18, 2026
On May 14, 2026, the Company issued a press release providing an update on the initiation of the staged restart of its manufacturing…View ↗
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Apr 21, 2026
Explosion damaged East Providence production space
The incident temporarily halted operations, and the facility remained offline as of April 21.
Sources
8-K, filed Apr 21, 2026
As of April 21, 2026, the facility remains offline. The Company continues to work with the relevant authorities to execute a plan to resume…View ↗
Broader thermal-barrier production contracts
The older report described thermal barriers as in development, with production supply to General Motors and Toyota. The latest report describes multi-year production contracts with several automakers, battery manufacturers and other vehicle-related customers.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 13, 2026We have entered into multi-year production contracts with a number of automotive EV original equipment manufacturer (OEM) customers to…View ↗
Who Do They Compete With?
Competes with Armacell International, JIOS Aerogel, Unifrax Holding, IBIDEN, Guangdong Alison Hi-Tech, Nano Tech, Beerenberg, IBIH Advanced Materials, Nameite New Materials Technology, Guizhou Aerospace Wujiang Electro-Mechanical Equipment, and Shenzhen Aerogel Technology
10-K for FY2025, filed Mar 13, 2026We compete in the aerogel materials market with Armacell International S.A., JIOS Aerogel Pte. Ltd., Unifrax Holding Co. (Alkegen), IBIDEN…View ↗
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