BASF and Aspen Aerogels Announce Strategic Partnership Agreement

BASF and Aspen Aerogels, Inc. announced the expansion of their strategic partnership through a dedicated supply agreement and joint development agreement. As part of the supply agreement, Aspen will supply Spaceloft A2 product for collaboration within BASF's Slentex wall system aerogel-backed offering for the construction materials market. In return, BASF will invest low double-digit million dollars in the construction of Aspen's new manufacturing facility and serve as a key customer for Aspen's capacity expansion. Additionally, BASF will provide technical support to Aspen to improve manufacturing efficiency, product cost and profit margins.