Aspen Aerogels raises more than $110m in aggregate with latest series B round of funding led by Germany-based chemical conglomerate BASF.

BASF Venture Capital, the corporate venturing unit of Germany-based chemical conglomerate BASF, has led a $21.5m investment in US-based insulation materials company Aspen Aerogels as a new investor.

BASF already uses Aspen’s nanoporous aerogel insulation products at its Antwerp, Netherlands-based site as its products are up to five times more effective than other insulation materials.

Bruce Christensen, vice president of global technology and innovation management at BASF Construction Chemicals, said: "High-performance insulation materials are the key technology…

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