Equity Research Svenska Aerogel: Delivery of 2.6 tons Quartzene® completed

Svenska Aerogel Holding AB (“Svenska Aerogel” or “the Company”) received an order in March 2025 for two tons of Quartzene® from a North American manufacturer of thermal insulation solutions for outdoor products. The Company announced today, June 17, 2025, that the customer has since increased the order, and a total of 2.6 tons of Quartzene® has now been delivered.

Following the initial order of 2 tons of Quartzene®, a collaboration between the customer and Svenska Aerogel began through a joint letter of intent. As the project has progressed, the customer’s needs have grown, resulting in the total volume being increased to 2.6 tons. Carlsquare Equity Research views the expansion of the order as a positive sign, as it indicates that Quartzene® meets both technical and commercial expectations. It signals that the product has genuine market relevance and that there is potential for a more long-term agreement. According to the Company, the customer has also invested resources into implementing the material on a larger scale, laying the foundation for a long-term partnership. A formal framework agreement is expected to be established as soon as the remaining steps in the letter of intent are completed.

Carlsquare Equity Research currently estimates the order value to be between SEK 0.5 and 0.75 million but we expect to provide a more precise estimate in connection with any upcoming press releases from the Company or in the Q2 report at the end of August.

Read our latest research report on Svenska Aerogel here.