LONDON, UK / ACCESSWIRE / January 25, 2018 / Active-Investors.com has just released a free research report on Aspen Aerogels, Inc. (NYSE: ASPN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=ASPN as the Company's latest news hit the wire. On January 23, 2018, the Company announced that the Mannheim Regional Court in Germany had ruled in favor of the Company in the patent infringement lawsuit against Hiltex Techniche Weefsels B.V. ("Hiltex"). The Court also issued a series of judgments and related injunctions against Hiltex prohibiting it from reselling certain aerogel products manufactured in China. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Aspen Aerogels most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Details of the Lawsuit and the Court's ruling
Aspen Aerogels had filed a lawsuit against Hiltex, which was reselling aerogel blankets, produced by Alison Hi-Tech Co. Ltd, against which the Company had claimed infringement of four European patents. The German Court's ruling came in after Hiltex backed the Company's claim. The Court issued a series of judgments and injunctions including the order to Hiltex to stop selling of Chinese manufactured aerogel products in Germany. The Court also determined that Hiltex is liable to Aspen Aerogels for damages. Following the Court's judgement, Aspen Aerogels and Hiltex reached a settlement according to which Hiltex has agreed to stop selling the contentious Chinese made aerogel blankets in any European country where the patents are applicable. Aspen Aerogels had also filed a lawsuit against Alison in the same German Court and the case is ongoing.
Commenting on the German Court's favorable ruling, Don Young, President and CEO of Aspen Aerogels, said:
"Our recent wins both in Germany and in the initial determination at the International Trade Commission serve to validate the strength of the patent portfolio protecting our aerogel technology platform. From the outset, we have maintained our firm belief that the sale, resale or use of Chinese aerogel products infringe our patents. Our core strategy is to invest in the research, development, commercialization, and protection of our aerogel technology platform worldwide. We remain firmly committed to defending our intellectual property and will continue to aggressively assert our rights against any Company that infringes our patented technology."
Backdrop
Earlier in October 2017, Aspen Aerogels had won the Initial Determination in International Trade Commission (ITC) Case against Alison Hi-Tech Co. Ltd and Nano Tech Co., Ltd, where Aspen Aerogels had claimed that Alison and Nano had infringed on its patents relating to aerogel insulation. The Initial Determination led by Administrative Law Judge McNamara of ITC found that Aspen Aerogels patent infringement claims were valid and confirmed that Alison and Nano had infringed on the said patents. Judge McNamara had suggested a limited exclusion order as a remedy to prevent the importation of infringing aerogel products into the US. The ITC is expected to make a final ruling on the matter by January 29, 2018, after final determination on the violation.
About Aspen Aerogels, Inc.
Northborough, Massachusetts-based Aspen Aerogels is a leading energy technology company providing innovative thermal management solutions for the energy insulation market. The Company designs, develops, and manufactures innovative, high-performance aerogel insulation used primarily in the energy infrastructure and building materials markets where thermal energy efficiency is at a premium and Aspen's products offer unique value. Aspen Aerogels' products offer insulations which is five times more effective than traditional insulation materials. Some of the Company's clients include companies in the Refining, Petrochemical, LNG, Power, and Subsea markets. The Company's main product brands include Cryogen®, Pyrogel®, and Spaceloft®, which are manufactured at its manufacturing facility located in East Providence, Rhode Island.
Stock Performance Snapshot
January 24, 2018 - At Wednesday's closing bell, Aspen Aerogels' stock marginally fell 0.93%, ending the trading session at $5.35.
Volume traded for the day: 77.89 thousand shares.
Stock performance in the last month - up 8.52%; previous three-month period - up 22.99%; past twelve-month period - up 17.07%; and year-to-date - up 9.63%
After yesterday's close, Aspen Aerogels' market cap was at $125.72 million.
The stock is part of the Industrial Goods sector, categorized under the General Building Materials industry. This sector was flat at the end of the session.
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