Hexagon PPM and Aspen Technology have signed a memorandum of understanding (MoU) for digital transformation in the engineering, procurement and construction (EPC) industry.
The collaboration will aim to align AspenTech’s conceptual, basic engineering and cost estimation solutions with Hexagon PPM’s engineering suite to enable a fully data-centric workflow across the asset lifecycle.
AspenTech and Hexagon PPM suites will feature a fully digital design and engineering process with integrated economic evaluation. The suite will help customers to better manage the financial risks of complex projects.
The combined capabilities will accelerate digital transformation and enable deployment of best-in-class integrated solutions from two leading software providers.
Working together, AspenTech and Hexagon PPM can provide a more complete digital twin, inclusive of both the plant infrastructure and the chemical processes, occurring within the physical infrastructure. This allows operators to make better decisions that increase throughput, quality and uptime.
AspenTech’s planning, scheduling and reliability software and the Hexagon PPM expertise for the detailed engineering phase of facility and plant design will enable operators to leverage engineering models during operations, grow their investments and allow them to respond better to changing market conditions.
Hexagon PPM President Mattias Stenberg announced the collaboration during a keynote speech at HxGN LIVE 2019 in Las Vegas. The event is Hexagon’s annual digital solutions conference. Stenberg delivered the speech together with Aspen Technology president and CEO Antonio Pietri.
Pietri said: “This collaboration will allow customers the flexibility to choose solutions from market-leading providers across the full lifecycle, from the design phase into the systems that operate and maintain a plant.
“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.”
Stenberg said: “Based on our assessments and engagements with joint customers, we are confident there is potential to impact both project and operational efficiency.
“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.”
Customers also support the new initiative.
Eni engineering manager Arturo Bellezza said: “Eni is looking with interest to initiatives like the one between Hexagon PPM and AspenTech. The resulting direct integration between process simulation, 3D model and operations will allow a major step forward in the digital journey of our industry.”
Aspen Technology is an asset optimisation software company.
Hexagon PPM is one of the leading global providers of engineering software for the design, construction and operation of plants, ships and offshore facilities.
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