Aspen Aerogels Raises $21.5M in Equity Financing
Summary
, a Northborough, Massachusetts-based supplier of reinforced, nanoporous aerogel insulation products, has raised $21.5m (about €15.7m) in equity The investment round was led by, with participation fromand with broad application to a variety of markets including building and construction, chemicals, transportation and oil and gas. Commenting on the funding, Don Young, CEO of the company said: “The global building and construction market offers a significant opportunity for aerogel technology, and BASF and Aspen will join forces to target and rapidly penetrate the European market”.
Funding
Amount
$21.5M
Total raised
Date
October 8, 2010
Announcement date
Investors
Arcapita Ventures, Reservoir Capital Group, BASF Venture Capital
Lead investors
Company
http://www.aerogel.com
Funded company
Classifications
industries
Aerospace
applications
No applications detected
AskAI Classifications
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