I'll help you understand Aspen Aerogels' PyroThin technology for thermal runaway prevention in EV batteries. Let me gather the latest information about ASPN and their technology.Based on the latest earnings transcript from Aspen Aerogels, here's a comprehensive explanation of their PyroThin thermal barrier technology:
What is PyroThin?
PyroThin is Aspen Aerogels' proprietary thermal barrier technology based on their flexible aerogel blanket platform. It's designed to prevent thermal propagation (thermal runaway) in lithium-ion battery packs.
How PyroThin Works: The Technical Foundation
Core Technology Features:
Extremely Low Thermal Conductivity - Aerogel is one of the most effective thermal insulators known, dramatically slowing heat transfer between battery cells
Excellent Fire Resistance - Can withstand extreme temperatures without breaking down or contributing to fire spread
Minimal Thickness - Unlike traditional thermal barriers, PyroThin achieves superior performance in an ultra-thin profile, crucial for maximizing battery pack energy density
Flexible Aerogel Blanket Format - Can be easily integrated into various battery architectures and designs
Thermal Runaway Prevention Mechanism
When a lithium-ion battery cell fails (due to defect, damage, or thermal stress), it can enter thermal runaway - a chain reaction where:
Cell temperature rapidly increases
Internal chemical reactions accelerate
Cell releases gases and potentially catches fire
Heat propagates to neighboring cells, causing cascading failures
PyroThin's Role:
Acts as a thermal barrier between battery cells/modules
Slows heat propagation from a failing cell to adjacent cells
Provides critical time delay for battery management systems to shut down the pack
Contains the thermal event to prevent full pack failure
Enables safer, more compact battery pack designs
Current Applications
1. Electric Vehicles
GM's Ultium Platform (primary customer)
European OEMs including Stellantis, Mercedes-Benz (through ACC)
Recently won design award from major European OEM (ramping 2027)
Revenue: ~$250-$350 per vehicle (prismatic cell designs)
2. Battery Energy Storage Systems (BESS)
Grid-scale storage moving to higher-density LFP (Lithium Iron Phosphate) designs
"Applying EV-style engineering to grid-scale storage"
Data center backup power systems
Same thermal propagation challenges as EVs, but at massive scale
3. Emerging Markets
Carbon capture applications
Pressure geothermal power generation
Site-specific power generation systems
Why It Matters: The Competitive Advantage
Technical Differentiation:
Battery pack designers can fit more cells in the same space (higher energy density)
Meets increasingly strict safety regulations for EVs and energy storage
Domestic production advantage (important for EV incentives and supply chain security)
Market Position:
High barriers to entry (aerogel manufacturing expertise)
Deep IP moat protecting the technology
Already proven in serial production with major OEMs
The BESS Opportunity (New Market)
According to CEO Don Young in the Q3 2025 call:
"To improve economics and pack more energy into the same footprint, BESS developers are moving to higher-density LFP designs, essentially applying EV-style engineering to grid-scale storage. And by doing so, creating the same thermal propagation challenges that we have already helped the EV industry solve."
This represents a significant new market where:
Same technology solves the problem
Existing manufacturing infrastructure can serve demand
Domestic content rules create financial incentives
Already working with 2 large energy storage companies
Business Impact
Current Focus: GM Ultium platform (facing near-term headwinds)
2026-2027: European OEM ramp (ACC, new design win)
New Adjacencies: BESS market expected to contribute to 2026 revenue
Long-term: $150M+ potential from European customers at full volumes
The technology essentially makes high-density, safe battery packs possible - solving one of the critical engineering challenges in both EVs and grid-scale energy storage.
