Aspen Technology and Hexagon Announce New Collaboration to Accelerate Digital Transformation in Process Industries
June 12 2019 - 1:10PM
Business Wire
Companies can speed transition from
document-based to digital workflows, improving both productivity
and quality of outcomes across the lifecycle
Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization™
software company and Hexagon, the leading global provider of
engineering software for the design, construction and operation of
plants, ships and offshore facilities, today announced a new level
of collaboration founded on a memorandum of understanding (MoU)
that will more closely align AspenTech’s conceptual, basic
engineering and cost estimation solutions with the detailed
engineering suite from Hexagon PPM, to enable a fully data-centric
workflow across the asset lifecycle.
As the first to market with a fully digital design and
engineering process with integrated economic evaluation, AspenTech
and Hexagon PPM suites align to help customers better manage the
financial risks of complex projects, which is a major challenge
today. The combined capabilities can accelerate digital
transformation and enable deployment of best-in-class integrated
solutions from two leading software providers.
Working together, AspenTech and Hexagon PPM can provide a more
complete digital twin, inclusive of both the plant infrastructure
and the chemical processes occurring within that physical
infrastructure, to allow operators to make better
decisions that maximize throughput, quality and
uptime. AspenTech’s planning, scheduling and reliability
software, coupled with the Hexagon PPM expertise for the detailed
engineering phase of facility and plant design, will help operators
more easily leverage engineering models during operations,
obtain the most from their investments and allow them
to respond better to changing market conditions.
The announcement came during the keynote speech of Hexagon PPM
president Mattias Stenberg at HxGN LIVE 2019 in Las Vegas,
Hexagon’s annual digital solutions conference, where he was joined
on stage by Antonio Pietri, president and chief executive officer
of Aspen Technology.
Pietri said, “This collaboration will allow customers the
flexibility to choose solutions from market leading providers
across the full lifecycle, from the design phase into the systems
that operate and maintain a plant. Engineering, procurement and
construction (EPC) firms and owner-operators will be able to
accelerate their digital transformation with complete confidence,
supported by best-in-class solutions.”
Stenberg said, “Based on our assessments and engagements with
joint customers, we are confident there is potential to impact both
project and operational efficiency. Aligning project costs to
decisions early in the design process reduces budget and schedule
risk. Post-project, the combination of predictive maintenance and
advanced controls with our information management solutions
translates into higher-quality plants that will perform better over
their lifetime.”
Customers expressed support for this new initiative:
“Eni is looking with interest to initiatives like the one
between Hexagon PPM and AspenTech,” said Arturo Bellezza,
engineering manager, Eni. “The resulting direct integration between
process simulation, 3D model and operations will allow a major step
forward in the digital journey of our industry.”
About Aspen TechnologyAspen Technology (AspenTech) is a
leading software supplier for optimizing asset performance. Its
products thrive in complex, industrial environments where it is
critical to optimize the asset design, operation and maintenance
lifecycle. AspenTech uniquely combines decades of process modeling
expertise with machine learning. The company's purpose-built
software platform automates knowledge work and builds sustainable
competitive advantage by delivering high returns over the entire
asset lifecycle. As a result, companies in capital-intensive
industries can maximize uptime and push the limits of performance,
running their assets safer, greener, longer, faster. Visit
AspenTech.com to find out more.
About HexagonHexagon is a global leader in sensor,
software and autonomous solutions. We are putting data to work to
boost efficiency, productivity, and quality across industrial,
manufacturing, infrastructure, safety, and mobility
applications.
Our technologies are shaping urban and production ecosystems to
become increasingly connected and autonomous – ensuring a scalable,
sustainable future.
Hexagon’s PPM division empowers its clients to transform
unstructured information into a smart digital asset to visualize,
build, and manage structures and facilities of all complexities,
ensuring safe and efficient operation throughout the entire
lifecycle.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 20,000
employees in 50 countries and net sales of approximately 3.8bn EUR.
Learn more at hexagon.com and follow us @HexagonAB.
© AspenTech, aspenONE, the Aspen leaf logo, Aspen and Aspen
Mtell are trademarks of Aspen Technology, Inc. All rights
reserved.
© 2019 Hexagon AB and/or its subsidiaries and affiliates. All
rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20190612005656/en/
Tony MaysGlobal PR Director,Aspen
Technology+1.781.221.4390Tony.Mays@aspentech.com
Jerry FeltsGlobal Communications Manager,Hexagon
PPM+1.256.730.3074jerry.felts@hexagon.com
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