American Aerogel Corp. (AAC), a Rochester, N.Y.-based new company that develops and makes aerogel-based insulation products, has received a $2.5m investment from Cycle Capital Management.
The investment, which was made via Cycle Capital Fund I LP, will allow AAC to expand its manufacturing capacity. Cycle Capital will also support the company through its network of industry partners and its experience in accelerating the growth of cleantech companies.
Led by General Manager Jay McHarg, American Aerogel Corporation has developed, produces and sells an aerogel-based insulation product, Aerocore(R), which has applications, among others, in the shipping of temperature-sensitive biomedical and pharmaceutical products.
It is designed to increase energy efficiency, and reduce the deterioration of shipped goods and cut shipping and transportation costs.
The company is also expanding its market by developing insulation products specifically designed for refrigerated trucks and intermodal containers.