Aspen Aerogels, Inc. Announces Additional EV Thermal Barrier Commercial Award And Provides Update On U.S. Department Of Energy Loan Application Status
Portfolio Pulse from Benzinga Newsdesk
Aspen Aerogels, Inc. (ASPN) announced a commercial award from The Automotive Cells Company to supply the Stellantis STLA Medium vehicle platform with PyroThin EV Thermal Barriers, starting production in 2025. Additionally, Aspen updated on its U.S. Department of Energy Loan Programs Office application, confirming it has moved to the due diligence phase for a loan to build a second manufacturing facility in Georgia. However, this does not guarantee further progress or loan approval.
December 05, 2023 | 9:22 pm
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Aspen Aerogels received a commercial award to supply PyroThin EV Thermal Barriers to Stellantis and has progressed to the due diligence phase for a DOE loan for a new facility.
The commercial award from The Automotive Cells Company for the Stellantis platform is a significant business development, likely to increase investor confidence and drive short-term positive sentiment. The progress in the DOE loan application also suggests potential for future growth, although it's not a guaranteed loan approval. Both pieces of news are directly related to Aspen's core business and future revenue streams, making them highly relevant and important to investors.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100