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AspenTech Software Used by Process Manufacturing Industry to Combat Global Warming

12/15/08

aspenONE Carbon Dioxide (CO2) Capture Process Models Accelerate Efforts to Meet Reduction Mandate Requirements and Support Clean Energy Development

BURLINGTON, Mass.--(BUSINESS WIRE)--Dec. 15, 2008--Aspen Technology, Inc. (OTC: AZPN.PK), a leading provider of software and services to the process industries, today outlined how engineers and researchers across industry, academia and government are using its aspenONE CO2 capture simulation software to fight global warming. The CO2 capture models within the aspenONE Process Engineering software are accelerating efforts to meet the increasing adoption of government reduction mandate requirements, while supporting clean energy development.

  • Current users of the CO2 capture models include the Research Institute of Innovative Technology for the Earth (RITE), The Massachusetts Institute of Technology ("MIT"), University of Texas at Austin, Cansolv Technologies, American Electric Power, Rentech and others.
  • AspenTech's CO2 capture models allow cost-effective design and optimization of manufacturing processes that separate CO2before it is emitted. By neutralizing the impact of this gas, process manufacturers can better achieve their operational excellence goals through environmental regulation compliance, and gain a competitive advantage.
  • Most recently, AspenTech released out-of-the-box modelling functionality for coal gasification, bio-fuels, and other alternative energy sources in its new aspenONE V7 Process Engineering solution suite.
  • Recently implemented state-led initiatives such as the Regional Greenhouse Gas Initiative (RGGI) and others such as the Western Climate Initiative (WCI) and the Midwestern Greenhouse Gas Accord (MGGA) are designed to establish the nation's first mandatory, market-based solution to reduce greenhouse gas emissions.
  • Following the European Union's Emissions Trading System (ETS) model, US states are expected to cap emissions output and sell allowances through auctions. Proceeds from the auctions are intended to support the development of renewable energy and other clean technologies and foster innovation in the clean energy economy to create green jobs.
  • AspenTech has been a leader in the development of alternative energy modeling tools since the late 1970s, when a coal gasification modeling project of The Massachusetts Institute of Technology funded by the US Department of Energy resulted in the founding of Aspen Technology. Since then, government, academia and process manufacturing companies have actively used AspenTech's engineering modeling solutions to address and optimize energy management and alternative energy initiatives.

    Supporting Quotes:

    Randall Field, Executive Director - Conversion Research Program, MIT Energy Initiative

    "Using AspenTech's software we are able to identify and analyze innovative ways to reduce the parasitic energy loads and costs associated with carbon dioxide capture. With the help of advanced modeling solutions in aspenONE we are well-equipped to investigate, innovate and assess alternative technologies for driving down carbon dioxide emissions while supporting the broader issues of energy security and energy costs."

    Mark Fusco, CEO, AspenTech

    "Our continued strong commitment to R&D funding keeps AspenTech at the forefront of innovation in finding newer and better ways to meet today's energy challenges. We are working in lock-step with the world's leading engineers and researchers across government, academia and the process industries in the search for promising new alternatives for emissions controls and clean energy sources."

    Supporting Resources:

    Links to more information:

  • Designing Emerging Energy Processes
  • Link to the Region Greenhouse Gas Initiative
  • Link to the Western Climate Initiative
  • Link to the Midwestern Greenhouse Gas Accord
  • Link to the Greenhouse Gas Technology Conference
  • aspenONE V7

    About AspenTech

    AspenTech is a leading supplier of software that optimizes process manufacturing - including oil and gas, petroleum, chemicals, pharmaceuticals and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world's leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.

    (C) 2008 Aspen Technology, Inc. AspenTech, aspenONE, and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved. All other trademarks are property of their respective owners.

    CONTACT: Aspen Technology, Inc.
    AspenTech
    David Grip, +1 781-221-5273
    David.Grip@aspentech.com
    or
    North America
    Lois Paul & Partners (for AspenTech)
    Michael Parker, +1 781-782-5714
    aspentech@lpp.com

    Source: Aspen Technology, Inc.