Aspen Technology has developed the AspenTech Strategic Planning for Sustainability Pathways™, which is a tool for creating innovative modelling and optimisation solutions. The purpose of this new solution is to help and guide companies when it comes to making decisions around carbon capture, utilisation and storage.

The aim behind this new creation, is to ensure that the significant investments which companies make into technologies that are dedicated to mitigating greenhouse gas emissions, create the desired effect and drive value, as well as having a positive impact on sustainability goals. AspenTech’s Strategic Planning solution is directed at large capital investments and it has also been developed to support long-term operational performance objectives.

The path the company took to develop this solution, involved a licensing agreement which occurred in 2023 and also involved a collaboration with Aramco. This company is one of the world’s leading integrated energy and chemicals companies.

Along with this development, AspenTech has also recently announced that the company will be launching an expanded co-innovation program, that will work towards bringing together leading owner operators and EPC companies. This will be carried out with the intention of these parties collaborating to innovate a wider strategic planning solution portfolio, which will have the overall aim of optimising across multiple sustainable pathways.

General Manager, Sustainability Solutions at Aspen Technology, Dr. Vikas Dhole, commented, “Carbon capture is but one sustainability pathway. Through the expanded co-innovation program, we will continue to broaden our solutions into other pathways to help the asset intensive industries to simultaneously address sustainability and operational performance objectives, given the significant investment that is projected in this area.”

Chief Product and Sustainability Officer at Aspen Technology, Rasha Hasaneen, mentioned, “Asset intensive industries play a critical role in the path to global net-zero, and carbon capture is an important pathway for our customers and requires significant capital investment. This is the focus of our new strategic planning solution – ensuring CAPEX and OPEX investments to be optimised across the entire carbon capture value chain.”