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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 Technology
Aspen 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.
Hexagon 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190612005656/en/
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