Aspen Aerogels(TM) Opens Edmonton Laboratory, Targets $1B Insulation Market in the Athabasca Oil Sands
CALGARY, Alberta, June 14 /PRNewswire/ -- Aspen Aerogels, the Massachusetts-based developer of the nanotechnology-enabled aerogel blankets, announced today that it would invest heavily in the Oil Sands market, beginning with a new laboratory in Edmonton, set to open in August. "The Oil Sands represents a significant opportunity for Aspen, one that we estimate will represent a $75MM market within a five year time frame," said Don Young, Aspen Aerogels CEO. "Our aerogel blanket is perfectly suited for the Oil Sands," said Young. "Aspen's aerogel blanket is superior from a thermal conductivity standpoint when compared to traditional materials currently in use, and typically results in the reduction of installation labor and operating costs." "We have already shipped a number of significant orders to the Oil Sands market since launching our marketing campaign in January 2006," said Marc Lebel, Vice President of Sales & Marketing for Aspen. "With our new production facility in East Providence, Rhode Island coming online this fall, we will be able to easily keep up with the strong demand anticipated from planned Oil Sands projects." Aspen's first shipments of Pyrogel(TM) 6350 are currently being installed on the high pressure steam lines associated with a major Steam Assisted Gravity Drainage (SAGD) project, currently under construction. Aspen specially designed this grade for use in the rugged Oil Sands environment. The R-value per inch of the Aspen aerogel blanket is four to six times greater than conventional types of insulation. On the steam lines in question, the use of Aspen's aerogel blankets has resulted in a 3-inch reduction in the insulation thickness. The reduction in insulated pipe circumference typically creates dual benefits: * Reduction in heat loss equal to up to 30% at equal touch temperatures * Reduction in the size of the pipe rack needed to carry the pipelines of up to 55% The cost advantages made possible using aerogel blankets begin even before their installation because the cost of shipping and staging the blankets is reduced by as much as 85%. One truckload of Aspen's aerogel blanket can insulate the equivalent of seven or more truckloads of conventional types of insulation. This allows fewer inbound shipments to lay down areas, and therefore results in fewer runs between the staging area and installation sites. The installation of Aspen's aerogel blankets is also very straightforward, which means that apprentice labor can be used more efficiently on a given job. Finally, the number of man-hours per meter of insulation installed can be cut by nearly 50%. This is a significant advantage in areas where the supply of labor is an issue, such as in the Oil Sands market. Aspen's aerogel blankets have been in use in the Oil and Gas industry since 2004. A partial list of Aspen's oil and gas customers include, Total, ExxonMobil, Shell, ConocoPhillips, Murphy Oil, Stat Oil, Hydro, Devon Canada, Technip and Saipem. About Aspen Aerogels, Inc. Headquartered in Northborough, MA, USA, with branch offices worldwide including Edmonton, Aspen Aerogels supplies nanotechnology-enabled aerogel products with insulating properties that outperform traditional materials by two to eight times. Unlike other aerogel material providers, Aspen delivers the thermal and acoustic performance of aerogels in a ready-to-use blanket infused with silica nanostructures. This blanket format makes it easy for Aspen customers to conserve energy and save money in oil and gas recovery, LNG shipping and storage, apparel, military, aerospace and energy-related applications. In addition, Aspen is actively developing applications in the building/construction, automotive and fuel cell markets. Global Petroleum Show Booth #7503 (Hall D)
SOURCE Aspen Aerogels
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