06/10/2010
Ludwigshafen (press relations) - BASF Venture Capital invests in U.S.
companies Aspen Aerogels
Nanoporous Aerogel Insulation to base
Advanced technology for energy-efficient building
BASF Venture Capital GmbH, Ludwigshafen, has a round investment of
21.5 million U.S. dollars (about 15.7 million euros) in Aspen Aerogels
Inc., Northborough, Massachusetts argued. Aspen provides insulation
materials based on nanoporous aerogels, which provide up to five times
the insulation capacity than conventional products. Customers in a
variety of industries can save with these highly efficient energy
materials? among others in the building industry, chemical industry
and oil and gas industry.
At the current funding round are including Rockport Capital, Tenaya
Capital, Reservoir Capital Group, Arcapita Ventures and Argonaut
Private Equity participated.
Aerogels are hydrated silica foams with nanoporous cavities that make
up 97 percent of their volume. Therefore, they are also called "fixed
air". Aerogels were thought to be extremely fragile and brittle
materials. Aspen is, however, managed to produce aerogels akzepztablen
costs in the form of thin, flexible mats that are more robust than the
conventional monoliths and beads. In this way they can be processed as
easily as any other flexible insulation.
"High-performance insulation materials are the key technology for
building energetically to rehabilitate," said Bruce Christensen, vice
president of Global Technology and Innovation Management at BASF
Construction Chemicals. "These new materials can save space and give
the owners more opportunities to make his home free. The technology of
Aspen to make an important contribution to energy-efficient homes that
look good, too."
"Aspen has the Aerogel technology well developed for industrial
applications? Said Dr. Oliver Guthmann, Investment Manager with BASF
Venture Capital." An additional, very large market potential and
further opportunities for profitable growth we see in the construction
industry. "The products Aspen Aerogels are at BASF in Antwerp, among
other things already in use.
"We are pleased with the strong technical, business and financial
cooperation with BASF," said Don Young, CEO of Aspen Aerogels. "The
global construction industry offers significant opportunities for the
Aerogel technology. BASF and Aspen will join forces to work to conquer
the European market."
