Investor Relations

Continuous, Safe Locomotive Operations Supported by Advanced Machine Learning Software

BEDFORD, Mass.--(BUSINESS WIRE)--Jan. 24, 2017-- Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to industry, today announced that Mtell, the recently acquired pioneer of prescriptive analytics for maximizing asset availability, has received the 2016 CSX Supplier Innovation Award.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170124005828/en/

Paul Rahilly, Former Mtell Chief Executive Officer, AspenTech Senior Director, Product Management and Gerhard Williams, CSX Vice President of Mechanical Engineering (Photo: Business Wire)

CSX Corporation, a premier transportation services provider based in Jacksonville, Florida, recognized Mtell as a select supplier delivering extraordinary value and productivity, saving the company millions of dollars in costly downtime.

Mtell prescriptive maintenance functionality helps CSX identify potential locomotive issues by analyzing large volumes of real-time and historical operational and maintenance data to detect anomalous behavioral patterns. By automating the detection of potential problems and prescribing corrective actions, the solution helps firms quickly identify and rapidly respond to early indicators of potential failures, significantly improving asset utilization.

AspenTech’s asset performance management solutions use a systems approach to accurately predict equipment and process failures, precisely understand when and why the failure will occur, and offer prescriptive recommendations to optimize business decisions from a design, operations and maintenance perspective.

Supporting Quotes
Larry Biess, Director Business Intelligence, Engineering & Strategy, CSX Transportation
“AspenTech and Mtell are critical partners in CSX’s transformation into a highly automated railroad, which requires a sophisticated level of predictive analytics to further enhance our safe, reliable service for customers. We’re pleased to recognize this important partnership – which has delivered consistent results driving operational and cost efficiency – with our 2016 Supplier Innovation Award.”

Paul Rahilly, Former Mtell Chief Executive Officer, AspenTech Senior Director, Product Management
“We are delighted to receive the 2016 CSX Supplier Innovation Award, and look forward to adding value to the aspenONE Asset Performance Management software suite. Together, we will continue to empower industry with game-changing prescriptive solutions that use machine learning to give firms an unprecedented ability to accurately predict degradation and failures in assets, and proactively mitigate risk.”

Mike Jensen, President, 4Atmos Technologies LLC
“4Atmos is pleased to be a key part of the CSX success story and looks forward to continuing to help customers save millions of dollars by avoiding potential failures. Our deep domain experience and hands-on approach enables us to rapidly deploy AspenTech’s industry-transforming prescriptive maintenance solutions and put into place the business best practices that result in real-world savings and optimized efficiencies.”

About AspenTech
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, engineering and construction, 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

© 2016 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, and OPTIMIZE are trademarks of Aspen Technology, Inc. All rights reserved. All other trademarks are property of their respective owners.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170124005828/en/

Source: Aspen Technology, Inc.

Aspen Technology, Inc.
AspenTech
Erin Clarke, +1 781-221-1919
erin.clarke@aspentech.com