Investor Relations

BEDFORD, Mass.--(BUSINESS WIRE)--Nov. 6, 2017-- Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization software company, today announced that the Dangote Group, the largest conglomerate in West Africa and one of the largest on the African continent, has selected Aspen PIMS-AO™ software after careful evaluation of competitors’ refinery optimization solutions for economic and operational planning.

Aspen PIMS-AO is the leading optimization engine in the industry. By standardizing on a best-in-class solution that leading refineries and olefins plants around the world use for feedstock selection, product slate optimization and production planning, Dangote further enhances its global presence as the organization builds the world’s largest single train refinery, the 650,000 bbl./day Dangote Oil Refinery. The refinery will also house the world’s largest urea plant with a capacity of 3 million tons per annum, in addition to a polyethylene plant and gas processing facilities for 3 billion SCF per day of natural gas transported through 1,100 kilometers of subsea pipeline infrastructure built by the Dangote Group.

Aspen PIMS-AO software is part of the aspenONE^® suite of products that streamline downstream refining workflows to bridge the gap between planning and scheduling, create optimal production plans quickly and evaluate more scenarios to enable better decision-making. AspenTech has partnered with leading energy companies worldwide to develop a proprietary solving algorithm that ensures accurate results. PIMS-AO also offers nonlinear models which improve accuracy in refining reactors and olefins (pyrolysis) furnaces.

Supporting Quotes

Srinivas Rachakonda, Director Business Strategy & Optimization, Dangote Group
“We use Aspen PIMS-AO as a key strategic decision support system technology in the selection of refinery configuration, critical design and expansion studies for the Dangote Refinery. The technology is used to report refining economics as well as to determine product slate and feedstock selection. PIMS-AO reasonably avoids occurrence of local optima, and we are pleased with AspenTech technical support. The partnership will continue after commissioning in 2019, when Aspen PIMS-AO will be used for all refinery planning and optimization, including feedstock selection, product slate optimization and production planning.”

Zafar Ali, Senior Director, Product Management, AspenTech
“AspenTech gives customers as much information as possible in the decision-making process to help them hedge business risk in light of volatile prices, demand and operational reliability. Aspen PIMS-AO, with its proprietary optimization engine, offers industry-leading solution quality and robustness, advanced solution tools, including ranging analysis, parametric analysis and feedstock basket reduction that empowers faster analysis of a wide range of data to ensure optimal profitability.”

Supporting Resources

• Dangote Group
• aspenONE V10 Software
• Aspen PIMS-AO

About AspenTech

AspenTech is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with big data machine-learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets faster, safer, longer and greener. Visit AspenTech.com to find out more.

© 2017 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen PIMS-AO 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/20171106005179/en/

Source: Aspen Technology, Inc.

AspenTech
Amanda McCarthy, +1 781-221-6806
amanda.mccarthy@aspentech.com