New Carbon Capture & Utilization Software Innovation Introduced by Aspen Technology and Saudi Aramco Partnership

Category:
Acquisition or Partnership

Aspen Technology, Inc.  announced a partnership with Aramco, one of the world’s leading integrated energy and chemicals companies, that positions AspenTech to introduce a unique, integrated modelling and Carbon Captureoptimization solution that will enable capital intensive industries to achieve practical and economic solutions for Carbon Capture and Utilization (CCU).

The new solution is based on technology developed by Aramco collaboratively with the Korea Advanced Institute of Science & Technology (KAIST). Aramco, through its subsidiary Saudi Aramco Technologies Company (SATC) has licensed the technology to AspenTech as part of its broader capabilities to optimize carbon emissions reduction. It will aim to address the identification of the most promising carbon capture and utilization paths by simultaneously considering economics, process design and operations constraints and CO2 reduction.  The goal of this innovation is to enable businesses to make evidence-based decisions in support of adopting carbon management strategies that optimize and accelerate sustainable operations.

The objectives of the solution will be to allow companies to:

  • Optimize CCU configurations to determine the optimum balance between emissions and profitability objectives
  • Evaluate the impact of uncertainty in energy costs, carbon fees, and raw material and product costs
  • Develop short, intermediate, and long-range production and strategic plans that include consideration for optimum CCU options to simultaneously address profitability and sustainability objectives 

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