AMA S.p.A. and AMA Composites S.r.l. (collectively, “AMA”), belonging to the well-established AMA group based in Italy and active in the automotive and building & construction sectors, announced today that it has reached an agreement with Aspen Aerogels, Inc. (NYSE: ASPN) (“Aspen”) to resolve its patent dispute before the Court of Genoa, Italy.

This settlement concludes Aspen’s legal action against AMA regarding the alleged unauthorized sale of aerogel insulation materials, which Aspen claimed infringed its European patents. AMA counterclaimed that Aspen’s patents are invalid and non-infringed. While both parties remain confident in the merits of their respective positions, they have chosen to find a mutually acceptable settlement to bring the matter to a close.

The end of this dispute has no impact on the present and future activity of both parties, nor on the characteristics of the products marketed by each of them.