Aspen Technology Educates Next Generation of Engineers on Sustainability Competencies

Rhea-AI Summary

Aspen Technology, a leader in industrial software, announced a three-year partnership with Oregon State University (OSU) aimed at incorporating sustainability software into the engineering curriculum. The initiative is designed to build industry-ready skills in students to accelerate impact on net-zero initiatives. The collaboration will focus on digital competencies important for sustainability in asset-intensive industries. This partnership is part of AspenTech's broader efforts, which also include collaborations with international universities like King Fahd University and training programs that have reached over 3,700 individuals to address industry skill gaps.

Positive

• Aspen Technology announced a three-year partnership with Oregon State University.
• The partnership focuses on incorporating sustainability software and training into engineering curricula.
• Initiative aims to prepare students with industry-ready skills for net-zero initiatives.
• AspenTech's broader efforts include collaborations with over 1,300 universities in 80 countries.
• 3,700 individuals have completed AspenTech’s Sustainability Training Program, closing industry skill gaps.

Negative

• The press release lacks specific financial details or metrics to gauge direct financial impact.
• No immediate revenue streams or cost savings are mentioned as a result of the partnership.
• The announcement does not specify how the partnership will directly affect AspenTech's stock performance.

Unique Partnership with Oregon State University Prepares Students to Successfully Enter Workforce and Help Asset-Intensive Industries Innovate Around Net-Zero Initiatives

BEDFORD, Mass.--(BUSINESS WIRE)-- Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today announced a three-year partnership agreement with Oregon State University (OSU) that expands traditional academic collaborations focused on incorporating process simulation solutions into curricula by adding sustainability software, training and competency development. The partnership aims to help students build industry-ready skills and knowledge to make an accelerated impact on critical sustainability initiatives upon entering the workforce.

“Generational workforce changes have made it more important than ever to quickly and effectively prepare new engineers with the skillsets required to successfully enter the workforce and help companies innovate and tackle the challenges associated with net-zero ambitions,” said Steven Qi, SVP, Customer Support & Training, AspenTech.

“Over the next three years, hundreds of our students and faculty will learn new digital competencies that we expect to have a direct impact on global sustainability efforts,” said Chih-hung (Alex) Chang, PhD, Stephen Slavens Faculty Scholar, Professor & Associate Head of Undergraduate Programs, School of Chemical, Biological and Environmental Engineering, OSU. “Navigating the energy transition has become an urgent priority, and we’re thrilled to collaborate with AspenTech on empowering the next generation of engineering talent with the skillsets needed to help solve this massive undertaking.”

The collaboration between AspenTech and OSU is one of many AspenTech initiatives designed to help students expand their engineering and sustainability skills. Among other international universities, King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, Saudi Arabia, partnered with AspenTech on technical training and curriculum content development based on its solutions. Over 1,300 universities in more than 80 countries utilize AspenTech software in their coursework.

In addition, approximately 3,700 individuals at customer and partner organizations have completed AspenTech’s Sustainability Training Program. The program is helping to close the industry skill gap by expanding users’ expertise on how to accelerate progress on critical sustainability pathways with digital technology.

For more information about how AspenTech is working with global universities, customers and partners to grow industry knowledge of digital solutions for the energy transition, please visit the following resources:

• AspenTech Academic Program
• AspenTech University
• AspenTech Sustainability Program

About Aspen Technology

Aspen Technology (NASDAQ:AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in asset-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

© 2024 Aspen Technology, Inc., AspenTech, and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240618555110/en/

Media Contact

Stephanie Jackman

AspenTech

+1 781-221-1965

Stephanie.Jackman@aspentech.com

Source: Aspen Technology, Inc.

FAQ

What is the partnership between Aspen Technology and Oregon State University about?

The partnership aims to incorporate sustainability software and training into the engineering curriculum to prepare students with industry-ready skills for net-zero initiatives.

How long is the partnership between Aspen Technology and Oregon State University?

The partnership is a three-year agreement.

How does Aspen Technology's partnership with Oregon State University benefit students?

The partnership helps students build skills and knowledge to make an accelerated impact on sustainability initiatives in asset-intensive industries.

How many universities use AspenTech software in their coursework?

Over 1,300 universities in more than 80 countries utilize AspenTech software.

What is AspenTech’s Sustainability Training Program?

The program educates individuals on accelerating sustainability progress using digital technology, with 3,700 participants so far.