Aspen Aerogels(US:ASPN)2021-05-20 18:57Market Opportunity - The company sees multi-billion dollar commercial opportunities by deploying its technology platform into ESG driven markets[7] - The total addressable market (TAM) for EV thermal barrier solutions is estimated to be $30 billion from 2021-2030[7, 18] - The total addressable market (TAM) for EV battery materials is estimated to be $37 billion from 2021-2030[7] - The total addressable market (TAM) for sustainable building materials is estimated to be $8 billion from 2021-2030[7, 32] - The total addressable market (TAM) for energy infrastructure is estimated to be $31 billion from 2021-2030[7] Financial Targets and Achievements - The company targets $225 million in revenue and a 30% gross margin in 2023[7] - The company aims to double revenue every 24 months through 2025[7] - The company has over $1 billion installed base in energy infrastructure and is growing its share[7, 42] - The company has $50 million installed base in sustainable building materials and is growing[7, 36] - The company has $1 billion of potential revenue from current EV thermal barrier customers[7] Technology and Products - The company's PyroThin™ thermal barriers mitigate cell-to-cell energy propagation in the event of thermal runaway[13] - The company is targeting initial commercial launch of its Si-rich carbon aerogel materials in 2023[28]