ASPEN AEROGELS: GAINING FROM ENERGY INDUSTRIAL EV MARKETS $ASPN
Excited to share an article about Aspen Aerogels, Inc. (NYSE: ASPN), an aerogel technology company that designs, develops, and manufactures innovative, high-performance aerogel materials used primarily in the energy industrial, sustainable insulation materials, and electric vehicle markets.
The Company’s insulation product revenue has grown from $17.2 million in 2008 to $124.8 million in 2022, representing a compound annual growth rate of 15%. Of late, the EV industry has been growing exponentially, and as a result, Aspen’s PyroThin® thermal barrier revenue grew nearly nine times to reach $55.6 million in FY23.
The Company already provides production parts to renowned companies like General Motors and Toyota, thus very well positioned to benefit from the upcoming opportunities.
https://www.aviseanalytics.com/aspen-aerogels-gaining-from-energy-industrial-ev-markets/