AspenTech Showcases Aspen HYSYS and Other New Products for the Oil & Gas and Petroleum Industries at DaratechPLANT 2005 Conference
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 24, 2005-- Aspen Technology, Inc. (Nasdaq: AZPNE) today announced that it will unveil its latest new products, as well as enhancements to its Aspen HYSYS(R) product line, at the DaratechPLANT 2005 conference in Houston, Texas. Aspen HYSYS and new products based on Aspen HYSYS technologies remain a key part of AspenTech's current and future offerings for engineering and innovation, including the aspenONE(TM) Simulation and Optimization modules, which offer improved integration for process manufacturers to identify and capture new value opportunities.
After settling its dispute with the Federal Trade Commission in December 2004, AspenTech remains the leader in providing simulation solutions and services to the process industries, distinguishing itself with a track record of success and technology innovations.
"AspenTech's ability to bring to market innovative technologies that help our customers realize maximum value from their operating assets is unmatched in the industry," said Mark Fusco, President and CEO, AspenTech. "Since the company was founded more than 23 years ago, AspenTech's reputation for delivering these technologies has been built on the understanding of our customers' needs, the expertise of a seasoned and knowledgeable development team, and an award-winning customer support team. We continue to differentiate ourselves today by expanding the flexibility with which customers can license and use our broad array of engineering products. These products span the full engineering lifecycle of support, from conceptual engineering, to economic evaluation, to detailed design, to plant operations."
Key differentiators for the aspenONE for Simulation and Optimization modules include the following:
- The recent integration of the aspenONE Simulation and Optimization module with other aspenONE modules gives users unparalleled flexibility to access a wider range of engineering products. Aspen HYSYS users can maximize the value of their investments with a new product called Aspen RefSYS(TM) for refinery-wide modeling; and a new solution called the Aspen Oil & Gas Solution(TM) for modeling integrated oil and gas production systems. New product licensing policies give customers the flexibility to license integrated products under similar terms to those in their existing Aspen HYSYS licenses, ensuring lower cost of ownership, while providing the flexibility to use a broad array of AspenTech products.
- AspenTech's Open Simulation Environment (Aspen OSE), a single open environment upon which the aspenONE modules are based, enables multiple modeling applications to work together seamlessly, enabling companies to work off of a consistent set of models - ranging from individual process units to complete site-wide models. Companies are able to apply these models across their key business processes in enterprise operations, from engineering, to plant operations, to supply chain management. Aspen OSE, Aspen HYSYS, and other new products are being developed with Microsoft Visual Studio(R) as the standard development tool, allowing AspenTech to deliver new high-quality software solutions by integrating new modeling technology components founded on .NET, with existing software more rapidly and more efficiently.
- After fulfilling its FTC settlement commitment of providing 15 professionals to Honeywell, AspenTech has retained a staff of over 130 software developers and business consultants with process simulation experience. These professionals focus on developing technology that enables process companies to optimize their plant assets across the entire lifecycle through the consistent use of models, from concept design to operational improvements.
- AspenTech's award-winning customer support team has unmatched experience in working with Aspen HYSYS and related products, and is prepared to give customers the immediate response that helps them maximize the value of the products they license. For five years in a row, the company has received awards for exemplary customer support from the Service and Support Professionals Association (SSPA). AspenTech's customer support team recently earned the SSPA Hall of Fame Lifetime Achievement Award.
"AspenTech's offerings represent an insightful approach for the process and power industries, allowing adopters to selectively incorporate improved modeling approaches while still leveraging existing tools," said Marise Mikulis, Global Energy Industry Manager for Microsoft. "Microsoft is committed to delivering standards-enabled technologies, such as Visual Studio and .NET, which are the supporting foundation for AspenTech's treatment. Microsoft is most keen to help our process and power industry customers transform operational efficiencies as they address the challenges of shrinking margins and growing demands."
Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to use simulation models to increase efficiency and profitability. aspenONE, a new generation of software solutions from AspenTech, represents a major step forward in helping process manufacturers achieve their strategic operational excellence initiatives. The first comprehensive offering to address the demands of the Enterprise Operations Management (EOM) market, aspenONE provides companies with integrated systems that enable them to manage and optimize their operational performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Shell, and Total. For more information, visit www.aspentech.com.
AspenTech, aspenONE, Aspen HYSYS, Aspen RefSYS, and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Aspen Technology, Inc.
Robin Swanger, 218-504 3256
Aspen Technology, Inc.
Joshua Young, 617-949-1274