Aspen Aerogels raises $37,000,000

Aspen Aerogels, a Northborough, Mass.-based nanotech company focused on insulation materials, has raised $37 million in fourth-round funding.  Aspen Aerogels supplies reinforced, nanoporous aerogel insulation products that are up to eight times more effective than other insulation materials. Aspen Aerogels’ insulation solutions deliver thermal and other benefits that enable customers to conserve energy and save money in a variety of industries including: oil and gas production and processing, LNG shipping and storage, outdoor apparel, building and construction, appliance, transportation, military, and aerospace.