Aspen Aerogels operates through two primary business segments: Thermal Barrier and Energy Industrial. The Thermal Barrier segment produces PyroThin, a proprietary aerogel material designed to mitigate thermal runaway in lithium-ion battery packs for electric vehicles and energy storage systems. The Energy Industrial segment provides insulation products, such as Pyrogel and Cryogel, which are used in refineries, petrochemical plants, liquefied natural gas (LNG) facilities, and subsea applications to manage extreme temperatures. Built on a proprietary silica aerogel technology platform, the company manufactures its products primarily in the United States while utilizing external facilities to scale capacity. Aspen's materials are utilized by major automotive OEMs and global energy companies for thermal management and fire protection applications.
