Home > Press > Aspen Aerogels Raises $50 Million in Series-D Financing
Investment will enable Aspen to construct its second high technology aerogel manufacturing facility
Aspen Aerogels Raises $50 Million in Series-D Financing
May 26, 2005
Aspen Aerogels, Inc., the leading provider of aerogel nanotechnology solutions and products in the commercial and military sectors, announced that it completed a $50 million Series D round of venture funding led by Reservoir Capital Group of New York, NY. All previous lead investors including Lehman Brothers, RockPort Capital Partners and Tae Kwang also participated.
“Aspen Aerogels has worked hard to develop and integrate high performance aerogel insulation solutions into a broad range of applications,” said Don Young, CEO of Aspen. “This investment represents both an acknowledgment of that success and a confidence in our vast potential to provide unique products that substantially reduce energy and system costs for our industrial, commercial, military and retail customers.”
“Aspen has developed a product form and manufacturing process to commercialize a breakthrough technology that has the ability to significantly impact a number of large sectors of the economy,” said Craig Huff, President of Reservoir Capital Group. “The combination of its strong management team, solid technology, and key partnerships with industry leaders positions Aspen for success as a leading advanced materials company.”
The investment, one of the largest ever in the nanotechnology field, will enable Aspen to construct its second high technology aerogel manufacturing facility and will increase its production capacity fivefold. Aspen Aerogels’ leadership position has been recognized in several recent articles in trade journals, newspapers, and magazines and as well as part of Forbes’ Top Nanotechnology Products of 2004 and Fortune’s 25 Breakout Companies of 2005.
About Aspen Aerogels:
Aspen Aerogels, Inc. is a leading advanced materials company engaged in the development, manufacturing and marketing of nanotechnology enabled aerogel blankets and products with broad applications in the industrial, consumer and military markets. For more information, please contact Aspen Aerogels by phone at (508) 691-1111 or e-mail email@example.com.
For more information, visit www.aerogel.com
About Reservoir Capital Group:
Reservoir Capital Group is an opportunistic investment firm with over $1 billion under management and offices in NY and Dallas
Copyright © Aspen Aerogels
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Harris & Harris Group Notes ABSMaterials' Series B Financing November 22nd, 2013
Harris & Harris Group Letter to Shareholders on Website November 18th, 2013
Harris & Harris Group Reports Financial Statements as of September 30, 2013 November 12th, 2013
Harris & Harris Group Notes CordenPharma's Acquisition of Ancora's Carbohydrate Synthesis Platform and Corporate Name November 7th, 2013
AXT Exhibiting at SPIE Micro and Nanomaterials Conference December 11th, 2013
Nanobotmodels medical animation studio presents education video about prion disease December 11th, 2013
Bruker Launches ContourSP 3D Optical Microscope for PCB Industry: Large-Format Metrology System Debuts to Over $5 Million in Orders December 10th, 2013
Nontoxic Quantum Dot Research Improves Solar Cells: Record power-conversion efficiency at Los Alamos from quantum-dot sensitized photovoltaics December 10th, 2013