Aspen Aerogels Wins Automotive News PACE and Innovation Partnership Awards
NORTHBOROUGH, Mass., April 30, 2024 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE:ASPN) ("Aspen", the "Company"), a technology leader in aerogel-based sustainability and electrification solutions, won a coveted Automotive News PACE Award for its PyroThin cell-to-cell (C2C) barrier platform used by leading automotive OEMs globally to improve electric vehicle (EV) battery safety and performance. Aspen was also honored with an Innovation Partnership Award recognizing its extensive collaboration with General Motors in relation to the selection of PyroThin C2C barriers as the thermal runaway solution for its Ultium battery platform.
Automotive News' PACE program is recognized globally as the most prestigious innovation award for automotive suppliers. These awards acknowledge organizations that demonstrate exceptional ingenuity and technological advancement, helping set a standard for industry best practices. Winners were announced on April 29 at a black-tie ceremony in Detroit.
"We are incredibly honored to be named a winner of not one but two awards," commented Don Young, Aspen's President and CEO. "This reflects Aspen's rich history of customer collaboration and innovation that pushes the boundaries of what our customers thought possible."
PACE Award
The Automotive News PACE Award recognizes PyroThin C2C barriers as an industry-leading solution for thermal runaway propagation. The PyroThin platform is based on Aspen's proprietary Aerogel Technology Platform®, which has more than 20 years of proven performance in real-world thermal and passive fire protection applications.
C2C barriers influence EV safety and the state-of-health of lithium-ion batteries. PyroThin C2C thermal mechanical barriers have been selected by leading EV OEMs in North America, Europe, and Asia. Aspen's patent-protected technology has changed how automotive battery engineers think about C2C barriers. PyroThin's patent-protected technology combines thermal and mechanical protection mechanisms, empowering battery engineers globally to achieve safety, energy density, and cell health targets.
PACE Innovation Partnership Award
Aspen was also honored with an Innovation Partnership Award to celebrate its engineering collaboration utilizing tunable PyroThin technology for General Motors' Ultium battery platform. The PACE Innovation Partnership Award commends automotive OEMs and suppliers that work closely together to bring an innovation to market. General Motors and Aspen collaborated closely as partners to develop a thermal runaway propagation solution with PyroThin, which is in high-volume serial production with passenger and commercial vehicle OEMs in North America, Europe, and Asia.
This is not the first time Aspen and General Motors' partnership has been celebrated. Aspen was named an Overdrive Award Winner for Launch Excellence, as part of General Motors' 30th Supplier of the Year Award, in 2022. PyroThin's proprietary technology and Aspen's agile engineering support played a crucial role in General Motors' thermal runaway propagation strategy for its Ultium battery platform.
"PACE" is shorthand for Premier Automotive Suppliers' Contribution to Excellence. This annual award identifies suppliers that are helping transform the automotive industry with their innovations. Aspen earned its Automotive News PACE Award following a rigorous process that included a comprehensive written application and virtual site visit conducted by independent industry, academic, and business leaders.
For more details about the Automotive News PACE Award, visit http://www.autonews.com/pace. To learn more about PyroThin thermal barriers and Aspens' award-winning technology, visit www.aerogel.com/PyroThin.
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 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. 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. Aspen is headquartered in Northborough, Mass. For more information, please visit www.aerogel.com.
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SOURCE Aspen Aerogels, Inc.
