The agreement will allow for production and supply of a new thermal insulation product that compliments BASF’s SLENTEX®.
German chemical company, BASF SE has recently announced the expansion of its strategic partnership with U.S. aerogel firm Aspen Aerogels, Inc. with the signing of an addendum to their exclusive supply agreement.
Sources close to the move claim that the addendum will allow for the production and supply of a new high-performance, non-combustible thermal insulation product which, being complementary to SLENTEX®, has shown excellent performance in early testing with lead customers.
For the uninitiated, SLENTEX® is a cutting-edge non-flammable thermal insulation technology that holds an exceptional combination of industry-leading thermal performance and incombustible fire rating. The product was developed for extensive applications in the construction and building sector, including thermal bridges, façade systems and transition areas, while the new insulation product is anticipated to target wider applications beyond the construction industry.
According to a press release, Raimar Jahn, President, Performance Materials, BASF, said that the successful development of the product will help the firm to better serve the fast-growing market for high-performance insulation materials.
He said that this innovative product will expand its portfolio in the high-performance insulation market and, jointly with SLENTEX®, will make its offering more competitive. Jahn added that the addendum will also accelerate the global launch and adoption of a new class of fire safe and ultra-efficient aerogel insulation technology.
Speaking on its partnership, Don Young, President & CEO, Aspen, said that the company, when it announced its joint development agreement with BASF in 2016, had a collective vision to create innovative and exceptional products.
He said that their partnership with BASF has exceeded its expectations and the recent addendum recognizes the commitment to its cooperative development while the additional prepayment effectively strengthens its financial position.
Reliable reports claim that Aspen, as part of the agreement, has received a second fraction of prepayment from BASF which will be used to support product optimization and new process development. Meanwhile, BASF has received exclusive rights to market the newly developed product.