Proposed loan of up to $670.6 million would fund the remaining CAPEX needed to complete Company’s second aerogel plant
Interest rate at applicable U.S. Treasury Rate at the time of each cash draw
Plant is expected to provide ~$1.2B – $1.6B of incremental PyroThin® thermal barrier revenue capacity
Project financing structure, with Aspen Aerogels, Inc.’s subsidiary Aspen Georgia, LLC as the borrower
Q3 2024 revenue of $117 million drove $25 million of Adjusted EBITDA
, /PRNewswire/ — Aspen Aerogels, Inc. (NYSE: ASPN) (“Aspen” or the “Company”), a technology leader in sustainability and electrification solutions, today announced that it has received a conditional commitment from the U.S. Department of Energy (“DOE”) for a proposed loan of up to $670.6 million (the “Loan”) under the Advanced Technology Vehicles Manufacturing loan program within DOE’s Loan Programs Office (“LPO”) for financing the construction of its planned second aerogel manufacturing facility (“Register Plant”) in Register, Georgia. The Company also announced Q3 2024 preliminary financial results …