NORTHBOROUGH, Mass., Jan. 28,
2025 /PRNewswire/ -- Aspen Aerogels, Inc. (NYSE:
ASPN) ("Aspen"), a leading
innovator and global leader in aerogel technology and
high-performance aerogel insulation solutions, announced today that
it has reached an agreement to resolve its patent dispute with AMA
S.p.A. and AMA Composites S.r.l. (collectively, "AMA") before the
Court of Genoa, Italy. This
settlement concludes Aspen's legal
action against AMA regarding the unauthorized sale of infringing
aerogel insulation materials in Europe.
"We are pleased to have reached a settlement with AMA that
recognizes the years of innovation Aspen Aerogels has dedicated to
developing industry-leading, high-performance insulation
solutions," said Keith Schilling,
SVP of Technology at Aspen Aerogels. "We maintain our commitment to
protecting our intellectual property rights worldwide and to
promoting fair and lawful competition in the marketplace."
Aspen remains dedicated to
advancing energy-efficient solutions through continuous innovation.
The company will continue to take appropriate measures to safeguard
its intellectual property and support fair practices within the
industry.
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 electric vehicle ("EV") market. The Company's
carbon aerogel initiative seeks to increase the performance of
lithium-ion battery cells to enable EV manufacturers to reduce
charging time and 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.
Special Note Regarding Forward-Looking and Cautionary
Statements
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties that could
cause actual results to be materially different from historical
results or from any future results expressed or implied by such
forward-looking statements. These statements are not historical
facts but rather are based on Aspen's current expectations, estimates and
projections regarding Aspen's
business, operations and other factors relating thereto. Words such
as "may," "will," "could," "would," "should," "anticipate,"
"predict," "potential," "continue," "expects," "intends," "plans,"
"projects," "believes," "estimates," "outlook," and similar
expressions are used to identify these forward-looking statements.
Such forward-looking statements include statements regarding, among
other things: (i) beliefs about the outcome of any patent
enforcement or appeals process in connection with such patent
enforcement action; (ii) beliefs about Aspen's intellectual property and technology
strategy and its implementation; (iii) beliefs about Aspen's aerogel technology platform and
resulting commercial opportunities; (iv) beliefs about Aspen's plans or intentions to take patent
enforcement actions; and (v) expectations about the cost, timing or
likelihood of success of Aspen's
patent enforcement actions and validity challenges. All such
forward-looking statements are based on management's present
expectations and are subject to certain factors, risks and
uncertainties that may cause actual results, outcome of events,
timing and performance to differ materially from those expressed or
implied by such statements. These risks and uncertainties include,
but are not limited to, the risk factors discussed under the
heading "Risk Factors" contained in our Annual Report on Form 10-K
for the year ended December 31, 2023
and filed with the Securities and Exchange Commission ("SEC") on
March 7, 2024, as well as any updates
to those risk factors filed from time to time in our subsequent
periodic and current reports filed with the SEC. All statements
contained in this press release are made only as of the date of
this press release, and Aspen does
not intend to update this information unless required by law.
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SOURCE Aspen Aerogels, Inc.