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More investment in the electric vehicle industry

by The 100 Companies
A rendering of the Aspen Aerogels plant.

Aspen Aerogels announced plans to build a 500,000-square-foot plant in Bulloch County near Statesboro. The aerogel technology company will manufacture materials for electric vehicle batteries that create a barrier between potentially combustible materials to contain possibly dangerous fires.

The company will invest at least $325 million in the plant and hopes it will be operational by late 2023. It was attracted to Georgia by its efficient ports, available workforce, low-cost utilities and necessary raw materials.

Aspen Aerogels is based about 40 miles from Boston in Northborough, Massachusetts. Founded in 2001, its revenues in 2022 are projected to be around $150 million.

– Jan Schroder, The Georgia 100

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The Georgia 100