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Aspen Aerogels, Inc. Receives Conditional Commitment for Proposed DOE Loan and Provides Q3 2024 Preliminary Financial Results
Aspen Aerogels (NYSE: ASPN) has received a conditional commitment from the U.S. Department of Energy for a proposed loan of up to $670.6 million to finance the construction of its second aerogel manufacturing facility in Register, Georgia. The loan, structured as project financing, would fully fund the remaining CAPEX needed to complete the plant. The Register Plant is designed to manufacture PyroThin® aerogel blankets, with an estimated revenue capacity of $1.2B - $1.6B.
Additionally, Aspen announced Q3 2024 preliminary financial results, including revenue of approximately $117 million, a net loss of about $13 million, and Adjusted EBITDA of approximately $25 million. The company's cash and cash equivalents were approximately $113 million as of September 30, 2024.
Additionally, Aspen announced Q3 2024 preliminary financial results, including revenue of approximately $117 million, a net loss of about $13 million, and Adjusted EBITDA of approximately $25 million. The company's cash and cash equivalents were approximately $113 million as of September 30, 2024.
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