AspenTech Insights
November 2024
Dive into a collection of AspenTech's most recent feature stories, videos, news and blog posts. This month there's a focus on Industial AI, the expansion of our product portfolio, microgrids and more. Click on each link below to see the complete stories. Interested in even more, visit the AspenTech Newsroom today!
AspenTech CEO Antonio Pietri was recently invited to appear on CNBC to discuss how Industrial AI is reshaping the energy sector, driving efficiencies and enabling smarter decision-making.
With this acquisition, AspenTech’s Digital Grid Management (DGM) suite will offer utilities a comprehensive, fully integrated network model management solution to address the acceleration of new grid assets, such as renewable generation, with increased flexibility to manage and scale network model data both inside and outside the control room.
Unplanned shutdowns are always challenging for large industrial facilities, but the power outage in February 2024 at the BP Whiting refinery in Indiana proved particularly problematic. The outage, later traced to the failure of a single transformer, forced the refinery - the sixth largest in the U.S. – to shut down for more than six weeks, costing the company millions in lost production and resulting in a sizeable CO2 release into the atmosphere. Beyond those immediate effects, the shutdown caused local gas prices to increase by as much as $0.20 cents per gallon, and national prices to jump by more than $0.12 cents on average.
As part of a collaborative effort to bridge the gap between academia and industry, AspenTech’s Academic Program team recently partnered with the University of Wisconsin-Madison to equip chemical engineering students with practical skills and knowledge in digital technology, specifically in Aspen Unified PIMS?, the industry’s leading production planning optimization solution.
Imagine being able to understand your global business operations, not just from a financial bottom-line perspective, but also the environmental impact of key decisions. That’s the power of including sustainability factors into long-term capital planning and economic studies models. Doing so enables companies to gain a new kind of vision, an x-ray vision for sustainability, to reveal opportunities hidden within the intricate manufacturing and supply chain network of your global business.
The PilotSTRATEGY project is an ambitious five-year European R&D project, investigating subsurface geological sites for CO2 storage in industrial regions of Southern and Eastern Europe to support the development of large-scale carbon capture and storage (CCS). The project is conducted by 16 governmental, academic and industry leaders from seven European countries, led by the French Geological Survey (BRGM), France’s national earth sciences institute.
For the latest AspenTech updates, follow each of our LinkedIn pages.
#Blog #BlogPost #AspenTech #Energy #EnergyIndustry #EnergyTransition #SCM #SupplyChain #DigitalTransformation #DigitalGrid #OSI #Sustainability #NetZero #aspenONE #aspenONEV14 #Chemicals #ChemicalManufacturing #DERMS #Utilities #Power #UtilitiesIndustry #PowerIndustry #APM #AssetManagement #AspenMtell #Decarbonization #SupplyChainManagement #ChemicalsIndustry