Aspen Assumes Direct Responsibility For Spaceloft A2 On BASF Supply Deal Termination

Aspen Aerogels Inc ASPN has terminated its supply arrangement with BASF SE's BASFY BASF Polyurethanes.
With the execution of the amendment to the supply agreement, Aspen has assumed direct responsibility for the commercialization of Spaceloft A2.
Effective December 15, 2021, BASF no longer sells aerogel products covered under the supply arrangement, and Aspen Aerogels retains all rights to sell the products.
"While sustainable building materials constitute a smaller portion of our overall revenue, Aspen is positioned for strong 2021 revenue and will carry solid momentum going into 2022," commented Don Young, Aspen's President and CEO.
Price Action: ASPN shares closed lower by 4.23% at $50.90, and BASFY shares closed at $17.43 on Tuesday.