EQS-News: Armacell
/ Key word(s): Expansion/Product Launch
Luxembourg, 17 September 2024 - Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, today announced the launch of a new cutting-edge aerogel technology. Following the incident that impacted Armacell's Cheonan (South Korea) plant on 7 September 2024, and in order to support its customers, Armacell has accelerated the launch of this new product platform, which will significantly expand the company's aerogel-based ArmaGel portfolio. The proprietary aerogel blanket technology and ArmaGel XG production line will complement Armacell's revolutionary aerogel-based product range. The product will be fully compliant to ASTM C1728 and enhance the existing ArmaGel offering, with benefits such as best-in-class thermal performance. Built on Armacell's breakthrough innovative technology developed in house, the first product to be known as ArmaGel XGH, will be available from October 2024. Armacell will disclose detailed product features at the launch date. ArmaGel XGH will initially be manufactured in China as significant capacity is available. Parallel to that, Armacell is investing in additional ArmaGel XG capacity in Pune (India), next to one of its largest and most advanced plants worldwide. By mid-2025, this brand new manufacturing facility will reinforce the company's aerogel capacity by adding 1 million square metres per annum to meet the rapidly increasing demand for aerogel-based insulation solutions. "This strategic investment illustrates Armacell's strong commitment to innovate and provide best-in-class energy efficiency solutions to the Industrial and Energy segments", says Laurent Musy, Armacell's President and CEO. Looking ahead, Armacell also expects this new technology to offer optimised aerogel solutions to mitigate thermal runaway in battery cells for applications such as electric vehicles. -ends- ArmaGel® is a trademark of the Armacell Group. As the inventor of flexible foam for equipment insulation and a leading provider of engineered foams, Armacell develops innovative and safe thermal and mechanical solutions that create sustainable value for its customers. Armacell's products significantly contribute to global energy efficiency, making a difference around the world every day. With more than 3,300 employees and 25 production plants in 19 countries, the company operates two main businesses, Advanced Insulation and Engineered Foams, and generated net sales of EUR 836 million and an adjusted EBITDA of EUR 155 million in 2023. Armacell focuses on insulation materials for technical equipment, high-performance foams for acoustic and lightweight applications, recycled PET products, next-generation aerogel technology and passive fire protection systems.
For more information, please visit: www.armacell.com
Media & Investor Contact Tom Anen Director Corporate Communications & Investor Relations +352 2484 9828 press@armacell.com 17.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
1989863 17.09.2024 CET/CEST
