Enables Customers to Optimize Carbon Capture Value Chain Investments

Co-development with Aramco Spurs Launch of Expanded Co-Innovation Program to Deliver Solutions Across Multiple Sustainability Pathways

BEDFORD, Mass.--(BUSINESS WIRE)--Apr. 26, 2024-- Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today introduced AspenTech Strategic Planning for Sustainability Pathways – a new and unique integrated modelling and optimization solution that aims to guide companies in carbon capture utilization and storage decision making and sustainability strategy investments. The AspenTech Strategic Planning solution was developed through a licensing agreement with Aramco, one of the world's leading integrated energy and chemicals companies. Based on this successful effort, AspenTech also announced that it is launching an expanded co-innovation program to bring together leading owner operators and EPC companies to collaboratively innovate a wider strategic planning solution portfolio to attempt to optimize across multiple sustainability pathways.

As companies make significant investments in technologies to mitigate greenhouse gas emissions, AspenTech's Strategic Planning solution aims for these large capital investments to drive value and impact sustainability goals. They are also expected to support long-term operational performance objectives.

Rasha Hasaneen, Chief Product and Sustainability Officer at Aspen Technology said, "Asset intensive industries play a critical role in the path to global net-zero, and carbon capture is an important pathway for our customers and requires significant capital investment. This is the focus of our new strategic planning solution – helping to optimize CAPEX and OPEX investments across the entire carbon capture value chain."

Dr. Vikas Dhole, General Manager, Sustainability Solutions at Aspen Technology, said "Carbon capture is but one sustainability pathway. Through the expanded co-innovation program, we will continue to broaden our solutions into other pathways to help the asset intensive industries to simultaneously address sustainability and operational performance objectives, given the significant investment that is projected in this area."

To learn more about AspenTech's solutions and its co-innovation program, please visit AspenTech Sustainability.

About Aspen Technology

Aspen Technology (NASDAQ:AZPN) is a global software leader helping industries at the forefront of the world's dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in asset-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

2024 Aspen Technology, Inc.AspenTech, the Aspen leaf logo and AspenTech Strategic Planning for Sustainability Pathways are trademarks of Aspen Technology, Inc.

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Stephanie Jackman
AspenTech
+1 781-221-1965
stephanie.jackman@aspentech.com

Source: Aspen Technology, Inc.