AeroShield Materials, a startup that leveraged MIT research to develop a new super-insulating transparent material to make windows more energy efficient, has raised $5 million, with new investor MassMutual Ventures joining two prior backers — Massachusetts Clean Energy Center and MassVentures.
The Waltham, Mass., startup also announced the opening of a new 12,000 square-foot manufacturing facility where it plans to produce full-sized products, including double-pane windows. According to Crunchbase, AeroShield has received $29.1 million. The amount includes equity investments from investors, as well as grants, including $14.5 million it won from the Advanced Research Project Agency-Energy (ARPA-E) in June.
‘Critical Point’
“This facility represents an inflection point in AeroShield’s journey. This is where we will turn our scientific breakthrough into the first certified transparent aerogel windows and begin saving residents billions in heating and cooling costs,” said Dr. Elise Strobach, AeroShield’s co-founder and CEO, whose research is at the heart of the company’s flagship product.
“Our pilot facility will supply window and door manufacturers as we launch our first products, and also serve as our R&D headquarters, as we develop the next generation of energy-efficient products using transparent aerogels,” added Strobach, who earned a Ph.D. in mechanical engineering from MIT.
Co-founded by Strobach, chief technology officer Kyle Wilke and Aaron Baskerville-Bridges, vice president of operations and former Boston Consulting Group executive, AeroShield has developed transparent silica-based sheets. The sheets, when added inside double-pane windows and doors, can improve energy performance by up to 65%. The new material, dubbed AeroShield, uses ultra-lightweight aerogels made from silica. Unlike other uses of aerogels, AeroShield’s patented material is clearer than glass, enabling new high-value use cases.
Expansion Ahead
“Double-pane windows are a big improvement over single panes because the air-filled gap between the two panes insulates the window by slowing down heat transfer,” Forbes said, when featuring Strobach and Wilke in the magazine’s 30 Under 30 list in 2020.
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Karl Beinkampen, a partner at MassMutual Ventures, called AeroShield “a perfect example of our thesis of supporting founders addressing significant climate problems that have historically been underfunded.” AeroShield represents the type of “innovation and growth” that is making Massachusetts the world’s climate tech hub, said Dr. Emily Reichert, CEO of the Massachusetts Clean Energy Center.
AeroShield’s new facility in Waltham is expected to expand the company’s capabilities with cutting-edge aerogel R&D labs, manufacturing equipment, assembly lines, and testing equipment. The new funding will help the company add about 30 employees and scale its business.
The company is presently focused on residential windows and doors, but its aerogels have a wider range of applications, such as commercial windows, grocery store freezer doors, ovens, electric vehicle windows, and solar thermal energy.
