Aspen Aerogels to recieve US $37 mn of VC investment

10 Jul '08

2 min read

Arcapita Ventures announced that it has led a $37 million round of investment in Aspen Aerogels Inc, a leading provider of advanced insulation materials.

Joining Arcapita in the round were existing investors Lehman Brothers Venture Partners, Reservoir Capital Group and Rockport Capital Partners.

Aspen's aerogel-based insulation is up to eight times more effective than incumbent materials, and is used in a variety of global markets, including oil and gas, apparels, textiles, building and construction, transportation, appliances and outdoor gear.

The company's technical advances are protected by a significant intellectual property portfolio of patents and cross licenses.

Aspen's world-class manufacturing facilities serve customers such as Exxon Mobil, Technip, Aerogel Korea, Samsung, British Gas, Salomon, Praxair, Bredero Shaw, Boeing and Saudi Aramco.

"Aspen's proprietary aerogel technologies and manufacturing processes have the potential to redefine large portions of the $30 billion global insulation market," said Ramsay Battin, Director of Arcapita Ventures, who will join the Aspen Aerogels Board of Directors.

"We believe the macro environment for this type of advanced insulation material is extremely favorable, and the past twelve months have marked a period of increasing momentum for the company with new and existing customers across a variety of industries."

Don Young, President and CEO of Aspen Aerogels, said, "We're delighted to have Arcapita Ventures join our investor syndicate.

Arcapita brings a unique blend of global reach, industry expertise and highly relevant contacts within the firm's broader portfolio of private equity, real estate and asset-based investments."

Aspen Aerogels Inc

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