ASPEN TECHNOLOGY

(AZPN)
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Delayed Nasdaq  -  04:00 2022-06-30 pm EDT
183.68 USD   -5.33%
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06/06BofA Securities Adjusts Aspen Technology's Price Target to $230 From $176, Reiterates Buy Rating
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Aspen Technology, Inc. - St1 Refinery Deploys AspenTech Solutions to Support Digital Transformation and Carbon Neutrality Goals

05/04/2022 | 09:46am EDT

BEDFORD - Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in asset optimization software, today announced that it has expanded its 12 year partnership with St1 Refinery AB, part of St1 Nordic Oy Group.

The refinery, situated in Gothenburg, Sweden, is deploying AspenTech solutions to provide a vertically integrated set of production optimization solutions from operational planning to real time control of critical equipment. This will allow an increase in operating margins while improving energy efficiency and thereby reducing CO2 emissions.

St1 produces and invests in sustainable energy production in various areas, together with investments in energy transition of its traditional refinery. It has a long term advanced renewable fuels strategy which includes biorefineries, one is currently under construction at the Gothenburg refinery. A long-term user of AspenTech's Planning & Scheduling solutions, St1 recently migrated to Aspen Unified PIMS and have now agreed to extend the partnership with the deployment of AspenTech's advanced process control software Aspen DMC3 and its dynamic optimization software, Aspen GDOT, across the Gothenburg site.

Miika Eerola, Managing Director, St1 Refinery commented: 'It is important that our refinery continues modernizing to maintain a positive long-term future and provide opportunity for the next generation. Our collaboration with AspenTech enables improvements across many critical elements in our renewables strategy, including equipment efficiencies resulting in less energy; hydrogen optimization including future biogas feedstock and refinery optimization to maximize benefits with fuels production.'

'St1 Refinery's investment in advanced renewable fuels and biorefining puts them at the forefront of an industry driving a more sustainable future. We are delighted to be a key part of their strategy to meet emission targets, building on our partnership established over a decade ago,' said John Hague, Executive Vice President of Operations at Aspen Technology.

With a combination of AspenTech's production optimization and performance engineering solutions in place, St1 Refinery is equipped with data and solutions to make quicker, more accurate decisions that help them achieve their profitability goals while moving them significantly along the path on their energy transition journey.

About Aspen Technology

Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its 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 safer, greener, longer and faster.

Contact:

Tel: 1.855.882.7736

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 709 M - -
Net income 2021 320 M - -
Net cash 2021 50,2 M - -
P/E ratio 2021 29,5x
Yield 2021 -
Capitalization 11 077 M 11 077 M -
EV / Sales 2020 12,0x
EV / Sales 2021 13,1x
Nbr of Employees 1 897
Free-Float -
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Managers and Directors
Antonio Jose Pietri President & Chief Executive Officer
Chantelle Yvette Breithaupt Chief Financial Officer, Director & Senior VP
Willie K. Chan Chief Technology Officer
Frederic George Hammond Director, Secretary, Senior VP & General Counsel
Christopher Stagno Director, Chief Accounting Officer & Senior VP