Aspen Aerogels Intends to Renew 2016 Lease Expirations

Screen Shot 2016-03-06 at 1.58.08 PMAspen Aerogels, the Northborough, Mass-based energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities, reported Friday that it intends to renew and extend its facility leases that currently expire in 2016.

Aspen Aerogels’ corporate headquarters is located at 30 Forbes Road in Northborough, Mass, where it occupies about 83,000 square feet under a lease expiring on December 31, 2016.

In addition, the firm leases a 10,500 square foot facility, a 24,000 square foot facility and a 128,000 square foot facility in East Providence, Rhode Island, which leases expire on May 31, 2016, May 31, 2016 and March 31, 2019, respectively.

“We intend to renew and extend the facility leases that currently expire in 2016,” the company reported Friday. “We also intend to construct a second manufacturing facility to be located in Statesboro, Georgia.”

Aspen Aerogels celebrated the completion of its third manufacturing line at its facility in East Providence, RI last October. The $30 million project will expand the company’s capacity by 25 percent to meet growing demand. A month later the company announced it would invest more than $70 million in a new manufacturing complex in Statesboro, Georgia.