Company Announcements

Solution empowers asset-intensive organizations to optimize power generation, storage and load management for power availability, productivity and security

BEDFORD, Mass.--(BUSINESS WIRE)--Oct. 8, 2024-- Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today introduced the AspenTech Microgrid Management System™ (MMS), a solution for customers with heavy electrical power requirements in refining, chemicals, mining and other asset-intensive industries that manage their own on-site conventional and renewable power generation in orchestration with active load management and energy storage. Based on the company’s proven AspenTech OSI monarch™ SCADA platform, the solution empowers customers to maximize operational performance and accelerate net-zero goals.

The capabilities delivered by AspenTech MMS are critical to high-energy consumers today as the power grid is at a critical juncture with increasing energy demand, aging and at-capacity grid infrastructure, more severe weather events and increasing cybersecurity threats challenging its reliability and stability. As a result, industrial and commercial energy consumers are increasingly at risk for extended power outages, limitations in power consumption, and inability to meet renewable energy goals, all of which have cascading production and business impact, including delayed restarts, environmental penalties, reduced supply and increased end user costs.

“AspenTech’s new microgrid solution reduces energy vulnerability and business risk by bringing innovation to asset-intensive industries based on decades of electric utility control and automation experience gained at more than 400 global utilities,” said Sally Jacquemin, Vice President of Power and Utilities at AspenTech. “AspenTech Microgrid Management System brings functionality and flexibility to the power challenge, helping heavy energy users achieve both operational and net-zero objectives.”

A part of AspenTech’s Digital Grid Management suite, AspenTech MMS helps industrial customers address these challenges by providing enhanced power reliability with active, real-time management of power generation resources, including renewable energy and storage, improved situational awareness to maximize return on investment and enhanced cybersecurity to protect all critical loads.

The solution also features a robust Industrial AI approach capable of forecasting power consumption and renewable generation up to 35 days in the future, enabling scheduling and optimization algorithms to maximize the use of generation resources while minimizing emissions and electricity costs.

Additional standard AspenTech MMS features now available include:

• Real-time control, trending, alarming and reporting to ensure system reliability and incident response
• Ability to optimize renewables together with traditional electricity generation and battery storage in balance with active load management
• Forecasting and scheduling capabilities to enable peak shaving and optimized battery charging/discharging
• Robust user interface with responsive data historian and reporting capabilities

Advanced capabilities are also available for customers by accessing the company’s full Digital Grid Management suite of solutions. To learn more, please visit:

• AspenTech Microgrid Management System™ release page
• AspenTech Newsroom

About AspenTech

Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in asset-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

© 2024 Aspen Technology, Inc., AspenTech, AspenTech OSI monarch SCADA, AspenTech Microgrid Management System and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008569944/en/

Media
Stephanie Jackman
AspenTech
+1 781-221-1965
Stephanie.Jackman@aspentech.com

Source: Aspen Technology, Inc.