Aspen Aerogels announces additional EV thermal barrier commercial award

Aspen Aerogels “announced a commercial award for its PyroThin(R) EV Thermal Barrier segment and provided an update on its application for a loan through the U.S. Department of Energy Loan Programs Office. Aspen announces an additional PyroThin vehicle platform award from The Automotive Cells Company (“ACC”), a battery cell joint venture between Stellantis N.V., Saft-TotalEnergies and Mercedes-Benz, to supply the Stellantis STLA Medium vehicle platform with an expected start of production in 2025. Stellantis N.V. is one of the world’s leading automakers with the Jeep, Ram, Fiat, Peugeot, Citroen, DS Automobiles, Chrysler, Dodge, Opel, Vauxhall, Alfa Romeo, Lancia, Maserati, Abarth, Free2move and Leasys brands in its portfolio. The Company also received a letter from the U.S. Department of Energy Loan Programs Office confirming that its pending application seeking a loan pursuant to the DOE LPO’s Advanced Technology Vehicles Manufacturing lending program is substantially complete and inviting the Company to formal due diligence. This application is in connection with the construction of Aspen’s planned second aerogel manufacturing facility in Georgia.”