Aspen Aerogels Recognized as a 2023 Automotive News PACE Awards Finalist

NORTHBOROUGH, Mass., Aug. 14, 2023 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE:ASPN) ("Aspen", the "Company"), a technology leader in aerogel-based sustainability and electrification solutions, today announced its PyroThin® thermal barrier platform was selected as a finalist in the 29^th annual Automotive News PACE Awards. This recognition highlights Aspens' unwavering commitment to supporting the advancement of the electrification movement by maximizing the safety and performance of Li-ion batteries.

The PACE Awards, now in their 29th year, celebrate automotive suppliers for their innovative products or processes that push boundaries and contribute to the industry's evolution.

"We are honored to have our proprietary PyroThin technology formally recognized as a leader in thermal runaway propagation protection," said Don Young, President and CEO. "This nomination showcases the hard work and dedication of our entire team to revolutionize battery performance and safety to drive the wider adoption of electric vehicles."

Aspen Aerogels developed PyroThin thermal barriers, the world's first aerogel cell-to-cell barrier engineered for pouch and prismatic battery cell applications. Utilizing Aspen's proprietary Aerogel Technology Platform®, PyroThin delivers the ultimate thermal runaway propagation protection. PyroThin's combined thermal and mechanical performance enables PyroThin to act as both a fire barrier and compression pad, in an ultrathin and lightweight format. When battery engineers choose PyroThin as part of their thermal runaway strategy, they can use thinner cell-to-cell barriers, fit more cells within modules, decrease pack weight, and increase vehicle range.

"Our PyroThin technology platform has transformed the way battery engineers think about cell-to-cell barriers," commented Corby Whitaker, Senior Vice President of Sales and Marketing. "Aspen's unparalleled aerogel technology and engineering expertise is leading the charge towards the next generation of thermal runaway solutions."

Winners will be announced at the Automotive News PACE Awards ceremony in early 2024.

About Aspen Aerogels, Inc.

Aspen is a technology leader in sustainability and electrification solutions. The Company's aerogel technology enables its customers and partners to achieve their own objectives around the global megatrends of resource efficiency, e-mobility and clean energy. Aspen's PyroThin® products enable solutions to thermal runaway challenges within the electric vehicle ("EV") market. Aspen Battery Materials, the Company's carbon aerogel initiative, seeks to increase the performance of lithium-ion battery cells to enable EV manufacturers to extend the driving range and reduce the cost of EVs. Aspen's Spaceloft® products provide building owners with industry-leading energy efficiency and fire safety. The Company's Cryogel® and Pyrogel® products are valued by the world's largest energy infrastructure companies. Aspen's strategy is to partner with world-class industry leaders to leverage its Aerogel Technology Platform® into additional high-value markets. Headquartered in Northborough, Mass., Aspen manufactures its products at its East Providence, R.I. facilities. For more information, please visit www.aerogel.com.

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SOURCE Aspen Aerogels, Inc.