Aspen Aerogels Opens New $30 Million Manufacturing Plant to Meet Customer Demand for Its High-Performance Insulation
NORTHBOROUGH, Mass., April 3, 2008 /PRNewswire/ -- Aspen Aerogels has tripled its production capacity with its newly opened, state-of-the-art, 150,000-square-foot manufacturing facility in East Providence, R.I. The $30 million investment in the new facility enables Aspen Aerogels to meet growing commercial demand for its nanoporous aerogel blanket insulation, which is proven to be up to eight times more effective than other insulation products. "The East Providence plant allows us to keep pace with the growing demand for our high-quality aerogel products," said Don Young, Aspen Aerogels' president and CEO. "The large investment we have made in both the advanced aerogel technology and the East Providence plant enables the company to better serve our customers and to maintain our position as an emerging leader in the energy efficiency market." Two expansions of the East Providence facility have been planned and will bring revenue capacity to a level exceeding $200 million. The new facility is bringing dozens of new and well-paying jobs to the Rhode Island area. About Aspen Aerogels Aspen Aerogels is based in Northborough, Mass., with corporate offices, R&D laboratories and the original manufacturing facility located there. Sales offices are located worldwide. Aspen produces lightweight, flexible, nanoporous aerogel insulation products in three lines: Cryogel(TM), Pyrogel(R) and Spaceloft(R). The products conserve energy and save money in a variety of industries including oil and gas production and processing, LNG shipping and storage, building and construction, outdoor apparel, appliance, transportation, military and aerospace.
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