Aspen Systems, Inc. of Marlborough, MA has completed the formation of a new subsidiary, Aspen Aerogels, Inc., to produce, market, and expand the product range of its aerogel technology. The new company concurrently closed a first round financing led by RockPort Capital Partners L. P. of over $4 million.
RockPort Capital is a Boston-based venture capital firm specializing in early to mid-stage companies in the energy and environmental technology, advanced materials, and nanotechnology sectors. Aspen will benefit from the strategic relationships, management experience, and financial resources that RockPort brings to it. David Prend, a Managing Partner of RockPort Capital said “RockPort is excited about the market potential for Aspen’s aerogel products, and their broad range of applications in aerospace, military, apparel, and many other markets.”