BASF Venture Capital invests in U.S. companies Aspen Aerogels

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."

About Aspen Aerogels, Inc.
Aspen Aerogels, Inc. is a company founded in 2001, the products based
on aerogels developed and marketed. Aspen has novel aerogels in the
form of simply designed to be processed mats, wide-ranging
applications have a variety of markets, for example in the oil and gas
industry, construction industry, in outdoor equipment and apparel
training in solar thermal energy in equipment technology and
transportation. The company is headquartered in Northborough,
Massachusetts, USA, and has 120 employees.
About BASF Venture Capital GmbH
BASF Venture Capital GmbH was established in 2001 as a wholly owned
subsidiary of BASF Future Business GmbH, Ludwigshafen, founded to
develop new growth opportunities by investing in start-up companies
and funds. BASF Venture Capital GmbH is involved with financial
investments preferably between one and five million? per company, with
active support for young start-ups. It invests, BASF Venture Capital
GmbH selects businesses in which innovative solutions in chemistry are
among the success factors and which are of strategic interest for
BASF.
About BASF
BASF is the world's leading chemical company: The Chemical Company.
Its portfolio ranges from chemicals, plastics and performance products
to agricultural products, fine chemicals and oil and gas. As a
reliable partner BASF helps its customers in virtually all industries
to be more successful. High-value products and intelligent solutions,
BASF plays an important role in finding answers to global challenges
such as climate protection, energy efficiency, nutrition and mobility.
The BASF had 2009 sales of more than 50 billion? employed and had
approximately 105,000 employees. BASF shares are traded in Frankfurt
(BAS), London (BFA) and Zurich (AN).