Aspen Aerogels designs, manufactures, and sells high-performance aerogel insulation materials through two main segments: Thermal Barrier and Energy Industrial. The Thermal Barrier segment produces PyroThin thermal barriers for lithium-ion battery packs in electric vehicles, protecting against thermal runaway while maintaining energy density; the company supplies production parts to major automotive original equipment manufacturers and has multi-year contracts with leading global automakers. The Energy Industrial segment manufactures aerogel insulation products optimized for high-temperature, cryogenic, and subsea applications used by oil refineries, petrochemical plants, power generation facilities, and other industrial sites, with an installed base spanning more than 50 countries and including 24 of the world's 25 largest refining companies. The company generates revenue through long-term production contracts with automotive customers, purchase orders from energy industrial distributors, and direct sales to end-users; it differentiates through proprietary manufacturing technology, extensive patent protection, and superior thermal performance relative to traditional materials, while maintaining vertically integrated manufacturing capabilities across multiple facilities.