Aspen Aerogels(US:ASPN)2020-07-31 22:39Company Overview - Aspen Aerogels designs, develops, and manufactures innovative, high-performance aerogel products[4] - The company targets three main markets: energy infrastructure, building materials, and electric vehicles (EVs)[4] - Aspen Aerogels has an installed base of over $1 billion in the energy infrastructure insulation market[4] - The company has a global distribution network with nearly 60 sales employees and consultants and over 65 distributors worldwide, installed in more than 50 countries[15] Financial Performance & Outlook - In 2019, Aspen Aerogels' total revenue was $139375000, with an adjusted EBITDA of negative $175000[39] - The company is on track to expand its East Providence manufacturing facility capacity by 20% under the EP20 initiative[36] - The EP20 initiative aims to increase annual capacity from 50 million square feet in 2018 to 60 million square feet by the end of 2021[36] - With EP20, the company projects product revenue between $184 million and $198 million and adjusted EBITDA between $28 million and $35 million[36] - For the first half of 2020, total revenue was $57445000, and adjusted EBITDA was negative $4205000, a 62% improvement[42] Electric Vehicle Market - The company is targeting the EV battery market with carbon aerogel powder to improve performance, cost, durability, and safety of lithium-ion batteries[32] - Industry analysts estimate 12 to 21 TWh of annual lithium-ion battery production by 2030 for commercial and passenger vehicles as well as energy storage[24] - Aspen Aerogels has formed partnerships with Evonik and SKC to accelerate the adoption of its aerogel technology in the emerging EV market[32]