BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization software company, today announced that Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has selected Aspen Mtell® software. The scope of the first rollout is their production site in Stenungsund, Sweden.
Aspen Mtell is part of the aspenONE® Asset Performance Management (APM) software suite combining big data, machine learning and process knowledge expertise to maximize performance across the design, operations and maintenance asset lifecycle. Aspen Mtell mines historical and real-time operational and maintenance data to discover the precise failure signatures that precede asset degradation and breakdowns, predict future failures and prescribe detailed actions to mitigate or solve problems.
The company’s selection of Aspen Mtell was based on its successful performance in a competitive predictive maintenance “proof of concept” project for a business-critical compressor on site. Predictive maintenance is a key initiative for Borealis and this initial project effectively demonstrated the tangible benefit of automating such data analysis and knowledge work. The decision to move forward with Aspen Mtell was further supported by the demonstrated rapid speed of deployment, accurate early detection of asset degradation and ability to scale the solution system-wide.
Through asset performance management — enabled by a blend of historical and real-time process, asset and enterprise data — organizations can transform asset maintenance into optimum reliability, extending the life of assets and maximizing the return on capital employed.
Martijn van Koten, Executive Vice President Operations, Borealis
“Borealis has embarked on a digital journey and the ability to bring transparency to all our operating processes is a priority for us. Aspen Mtell predictive maintenance software’s ease of implementation will allow us to develop data analytics, including pattern recognition and early anomaly detection, in all operating functions, leading to increased performance in safety, quality, reliability and overall improved performance in manufacturing. With significantly earlier warning of asset degradation provided by Aspen Mtell software, we will have the time to work collaboratively to mitigate the losses of unplanned downtime and to minimize disruptions to our customers.”
Antonio Pietri, President and Chief Executive Officer, AspenTech
“Borealis’ implementation of Aspen Mtell builds on its investment in AspenTech advanced solutions to support its overall digital strategy. These technologies intelligently extract knowledge and value from the multiple large data sources available to end users in order to drive asset optimization. Adding Aspen Mtell will give Borealis predictive and prescriptive maintenance capabilities that will drive optimum reliability, extending the life of assets and maximizing the return on capital.”
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With its head office in Vienna, Austria, the company currently has around 6,600 employees and operates in over 120 countries. Borealis generated EUR 7.5 billion in sales revenue and a net profit of EUR 1,095 million in 2017. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC). www.borealisgroup.com
AspenTech is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with big data machine learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets faster, safer, longer and greener. Visit AspenTech.com to find out more.
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