Aspen Technology and Hexagon announce collaboration
Aspen Technology and Hexagon PPM, a provider of engineering software for the design, construction and operation of plants, ships and offshore facilities, have announced a memorandum of understanding (MoU) that will more closely align AspenTech’s conceptual, basic engineering and cost estimation solutions with the Hexagon PPM’s engineering suite, to enable a fully data-centric workflow across the asset life cycle.
With a fully digital design and engineering process with integrated economic evaluation, AspenTech and Hexagon PPM suites are designed to help their customers better manage the financial risks of complex projects, which is a major challenge today.
Working together, AspenTech and Hexagon PPM say they can provide a more complete digital twin, inclusive of both the plant infrastructure and the chemical processes occurring within that physical infrastructure, to allow operators to make better decisions that maximise throughput, quality and uptime. AspenTech’s planning, scheduling and reliability software, coupled with Hexagon PPM’s expertise for the detailed engineering phase of facility and plant design, will help operators more easily leverage engineering models during operations, obtain the most from their investments and allow them to respond better to changing market conditions.
The announcement came during the keynote speech of Hexagon PPM President Mattias Stenberg at HxGN LIVE 2019 in Las Vegas, Hexagon’s annual digital solutions conference, where he was joined on stage by Antonio Pietri, President and CEO of Aspen Technology.
“This collaboration will allow customers the flexibility to choose solutions from market-leading providers across the full life cycle, from the design phase into the systems that operate and maintain a plant,” said Pietri. “Engineering, procurement and construction (EPC) firms and owner-operators will be able to accelerate their digital transformation with complete confidence, supported by best-in-class solutions.”
“Based on our assessments and engagements with joint customers, we are confident there is potential to impact both project and operational efficiency,” said Stenberg. “Aligning project costs to decisions early in the design process reduces budget and schedule risk. Post-project, the combination of predictive maintenance and advanced controls with our information management solutions translates into higher-quality plants that will perform better over their lifetime.”
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