This report evaluates Aspen Aerogels, Inc. (ASPN), a company in its industry, for Shariah compliance across financial, business activity, and governance dimensions. While the core business of aerogel insulation manufacturing is permissible, financial ratios indicate challenges with debt and liquidity thresholds under strict standards. Index exclusion leads to an overall non-compliant status, though regional variations exist. Purification is required for minor non-compliant income, and ESG factors show low risk alignment with Islamic principles.