Leading Depressurization Technology Supports Critical Activity of Plant Safety for Oil & Gas and Chemical Companies
BEDFORD, Mass. — (BUSINESS WIRE) — March 12, 2015 — Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced it has acquired the BLOWDOWN software technology from Professor Stephen Richardson of Imperial College London and Dr. Graham Saville, formerly of Imperial College London.
BLOWDOWN has been used in hundreds of studies in oil and gas and chemical companies to model depressurization in process plants. Improving safety through the modeling and analysis of depressurization systems is a critical activity in the design and operation of every process plant.
Depressurization or “blowdown” protects key process equipment by relieving fluids from the equipment in a controlled manner. BLOWDOWN identifies locations in a system where temperatures can decline dramatically during depressurization. These low temperatures can lead to a drop in the temperature of the walls of the process vessels below the transition temperature of the steel from which the vessel or line is made.
The aspenONE® Engineering suite provides market leading process plant modeling and optimization capabilities. BLOWDOWN provides additional capabilities that will eventually enable AspenTech to provide a complete depressurization system optimization capability. This will result in increased engineering efficiency, reduced capital spend and increased safety and reliability for AspenTech customers.
Terms of the transaction were not disclosed.
Supporting Quotes
Antonio Pietri, President & CEO, AspenTech
“aspenONE Engineering is the most comprehensive, integrated and easy-to-use environment for process engineering. The addition of BLOWDOWN will give our customers the ability to model depressurization scenarios, which is a critical activity in the design and operation of every process plant. Combining the strengths of BLOWDOWN with aspenONE’s capabilities to design and analyze overpressure protection systems makes it possible to generate inherently safer and more efficient designs.”
Supporting Resources
About AspenTech
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, pharmaceuticals, 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.
NOTE: Aspen Technology may provide information regarding possible future product developments including new products, product features, product interfaces, integration, design, architecture, etc. that may be perceived to represent “product roadmaps.” Any such information is for discussion purposes only and does not constitute a commitment by Aspen Technology to do or deliver anything in these product roadmaps or otherwise. Any such commitment must be explicitly set forth in a written contract between the customer and Aspen Technology, executed by an authorized officer of each company.
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