AspenTech Technologies, Inc. (NASDAQ: AZPN), a global leader in industrial software, is launching its Strategic Planning for Sustainability Pathways™ software. It is a new and unique integrated modeling and optimization solution designed to help companies make accurate carbon capture, utilization and storage decisions and strategic investment planning for sustainability. The strategic 6177R-MMPWX planning solution stems from a successful partnership with Saudi Aramco, the world’s leading integrated energy and chemicals company. Building on this successful collaboration, Aspen announced the launch of an expanded joint innovation program. The program aims to bring together leading operators and engineering contractors to develop a broader and deeper portfolio of strategic planning solutions to explore and optimize sustainable development pathways.

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At a time when companies are investing heavily in greenhouse gas reduction technologies, Aspen’s strategic planning solutions are designed to drive these large-scale capital investments to create 6177R-MMPWX value and achieve sustainability goals. These solutions also enable companies to improve their long-term operational goals.

Rasha Hasaneen, Chief Product and Sustainability Officer at Aspen, said: “Asset-intensive industries have a vital role to play on the global path to net zero emissions, and carbon capture is an important way for our customers to achieve this goal. This process requires significant capital investment, and our new strategic planning solution focuses on this, helping companies optimize capital expenditure (CAPEX) and operating expenditure (OPEX) investments across the carbon capture value chain.”

Dr Vikas Dhole, Managing Director of Aspen’s Sustainability Business unit, said: “Carbon capture is only one of the pathways to sustainability. Through the expanded joint innovation program, we will further expand the application scope of our solutions to help asset-intensive industries achieve both sustainability and operational efficiency, and we expect significant investment in this area.”