The Office of Loan Programs at the US Department of Energy (DOE) has made a conditional commitment of up to $670.6 million in direct loans to Aspen Aerogels Georgia to help finance the construction of an airgel blanket manufacturing facility in Register, Georgia.
Aspen's PyroThin airgel thermal barriers are used as a protective layer inside electric vehicle batteries. They are designed to reduce or prevent the spread of hot heat, which can lead to a fire. PyroThin combines thermal management, mechanical performance and fire protection properties to protect neighboring cells from thermal activation to prevent fire if a battery cell fails.
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The demand for airgel thermal barriers is expected to grow in the US and Europe as stricter standards for thermal insulation and insulation are implemented. Barriers can help OEMs achieve their safety goals without sacrificing battery performance, Aspen said.
Once at full capacity, the Georgia factory is expected to supply thermal barriers for more than 2 million car batteries annually.
Aspen has entered into multi-year contracts with many EV manufacturers and suppliers, including GM, Toyota, Scania, Automotive Cells Company and Audi. The company is currently filling orders for contract customers and producing prototypes for potential customers at its manufacturing facility in Rhode Island. The Georgia facility will help the company meet the expected increase in demand and support new takeover agreements.
Once completed, the loan will be provided through the Advanced Vehicle Manufacturing (ATVM) Loan Program. The DOE and Aspen must meet certain technical, legal, environmental and financial conditions before the department can finalize the loan.
Source: US Department of Energy
