Northborough insulation product manufacturer Aspen Aerogels announced on Wednesday it finalized the termination of its strategic partnership with German chemical producer BASF.
The partnership began in June 2016 and focused on utilizing BASF’s networks to take Aspen Aerogels Spaceloft A2, a non-combustible insulation product, into the global market, per the release.
Talks began in October 2021 as Aspen Aerogels positioned itself to have direct control and commercialization of its product thereby eliminating the need for BASF’s services.
The termination was first disclosed in Aspen’s filing with the U.S. Securities & Exchange Commission on Nov. 4 and then updated by the company on Monday, according to the announcement.
“We have appreciated BASF’s partnership and are excited to add the non-combustible building product back into our portfolio of sustainable building products,” said Don Young, Aspen Aerogels’ president and CEO, in a press release.
