Advanced insulation company Aspen Aerogels, Inc. received a $37 million round of financing led by Arcapita Ventures and including existing investors Lehman Brothers Venture Partners, Reservoir Capital Group and Rockport Capital Partners.
Aspen says its 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, building and construction, transportation, appliances and outdoor gear and apparel.
"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."
About Aspen Aerogels
Aspen Aerogels supplies reinforced,
nanoporous aerogel insulation products that are up to eight times more
effective than other insulation materials. Aspen Aerogels' insulation
solutions deliver thermal and other benefits that enable customers to
conserve energy and save money in a variety of industries including:
oil and gas production and processing, LNG shipping and storage,
outdoor apparel, building and construction, appliance, transportation,
military, and aerospace.
About Arcapita Ventures
Arcapita Ventures, the venture capital arm of Arcapita Bank B.S.C.(c), partners with outstanding entrepreneurs to build market-leading companies. Arcapita Ventures focuses on growth-stage enterprises across the United States in the healthcare, information technology, and industrial technology sectors. Arcapita Bank, a leading international investment firm with offices in Atlanta, Bahrain, London, and Singapore, has completed 70 transactions with a total value exceeding $23 billion in the venture capital, private equity, real estate, and asset-based markets. On the web at www.arcapita.com.
