Why Aspen Aerogels Shares Are Seeing Blue Skies On Wednesday

Aspen Aerogels, Inc. (NYSE:ASPN) shares are trading higher after the company won a conditional commitment for a proposed DOE loan worth up to $670.6 million.

This loan, part of the Advanced Technology Vehicles Manufacturing program, will finance the construction of Aspen’s second aerogel manufacturing facility in Register, Georgia.

Although the conditional commitment signifies the DOE’s intent to finance the project, both the DOE and Aspen Aerogels must meet specific technical, legal, environmental, and financial conditions before finalizing the loan agreement and disbursing funds.

The Register Plant will manufacture PyroThin aerogel blankets, ultrathin thermal barriers designed to ...