AspenTech's Energy Cost Management Solution Dramatically Reduces Energy Costs for Process Manufacturers
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 7, 2005-- Aspen Technology, Inc. (Nasdaq: AZPN) today announced the launch of Aspen Energy Cost Manager, the latest in AspenTech's comprehensive range of energy management solutions for the process industries. The new solution will enable process manufacturers to achieve significant cost and environmental benefits by helping plant sites avoid excess energy consumption in their day-to-day operations. With energy prices near record highs, Aspen Energy Cost Manager can deliver payback in less than six months.
Aspen Energy Cost Manager uses real-time operating data to identify when energy use in the plant is higher than necessary, and provides the responsible personnel with recommendations for the most favorable course of action to restore operations to a more energy efficient condition. For energy-intensive process manufacturing sites, such as a petrochemicals plant or oil refinery, customer studies show that the solution can deliver energy cost reductions of up to 5 percent.
"AspenTech has a long tradition in helping process manufacturers manage and optimize their energy consumption, using solutions for process modeling, pinch analysis, advanced process control and utilities planning and optimization," said Blair Wheeler, Senior Vice President Marketing, AspenTech. "Aspen Energy Cost Manager is an important addition to our offering, enabling companies to proactively manage their demand-side energy costs based on a clear understanding of the financial impact of their operating decisions."
"Even before its release, a major chemical customer adopted the solution as the standard for energy cost management across a division after early studies demonstrated significant potential returns," added Wheeler. "We are excited by the opportunity Aspen Energy Cost Manager represents to help process manufacturers improve their margins in increasingly costly energy markets. Excluding crude oil purchases, the cost of energy in the refining industry can now exceed 60% of the total operating cost, while in the chemicals industry a corresponding figure of 40% is now common."
Most chemical or refining processes experience significant variability in their energy efficiency, as a result of changes in process conditions, different operating strategies and poor control over wasteful practices. This means that plants are frequently using more energy than necessary, a situation which is often neglected because managers only have access to historical performance data and cannot react until it is too late.
Aspen Energy Cost Manager helps companies resolve this problem by enabling them to measure and monitor energy use in real time, comparing performance against "intelligent" dynamic targets which are varied to reflect the current operating conditions. The solution notifies users when current energy use exceeds the target, shows the cost of this deviation, including contractual obligations and penalties, and alerts the person best placed to take corrective action. A list of recommended actions is provided, with further information available if more detailed analysis is required.
Aspen Energy Cost Manager is now commercially available. About AspenTech
Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. AspenTech's integrated aspenONE(TM) solutions are aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including Bayer, BASF, BP, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell, and Total. For more information, visit www.aspentech.com.
This press release may contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including, without limitation: AspenTech's plan to improve operational performance may not be implemented effectively; AspenTech has identified material weaknesses in its internal controls with respect to software license revenue recognition and other matters, that, if not remedied effectively, could result in material misstatements; risks around securities litigation and investigations; AspenTech's lengthy sales cycle makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; the possibility of new accounting standards or the interpretation of existing accounting standards affecting our financial results; AspenTech's ability to raise additional capital as required; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; challenges associated with international operations; and other risk factors described from time to time in AspenTech's periodic reports filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release.
AspenTech, Aspen Energy Cost Manager, aspenONE and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Aspen Technology, Inc.
Marie Telepneff, 617-949-1324