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.