St1 Refinery Deploys AspenTech Solutions to Support Digital Transformation and Carbon Neutrality Goals

Rhea-AI Summary

Aspen Technology (NASDAQ:AZPN) announced an expansion of its 12-year partnership with St1 Refinery AB in Gothenburg, Sweden. The agreement involves deploying AspenTech's advanced software solutions, including Aspen DMC3 and Aspen GDOT, to enhance production optimization. This collaboration aims to improve energy efficiency, increase operating margins, and support St1's sustainability initiatives by reducing CO₂ emissions. St1's investment in renewable fuels aligns with their long-term strategy for a more sustainable energy future.

Positive

• Expanded partnership with St1 Refinery AB enhances production optimization.
• Deployment of advanced software solutions is expected to improve energy efficiency.
• Collaboration aligns with sustainability efforts, reducing CO₂ emissions.

Negative

• None.

AspenTech Helps Enable European Refinery’s Progressive Approach to Reduce Emissions and Meet Sustainability Targets

BEDFORD, Mass.--(BUSINESS WIRE)-- 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.

St1 Nordic Oy is an energy group whose vision is to be the leading producer and seller of CO2-aware energy. The Group researches and develops economically viable, environmentally sustainable energy solutions. St1 focuses on fuels marketing activities, oil refining and renewable energy solutions such as waste-based advanced biofuels and industrial wind power. The Group has 1290 St1 and Shell branded retail stations and gas filling points in Finland, Sweden and Norway. Headquartered in Helsinki, St1 employs currently more than 1200 people. www.st1.com

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. Visit AspenTech.com to find out more.

© 2022 Aspen Technology, Inc. AspenTech, the Aspen leaf logo, Aspen DMC3, Aspen GDOT, and Aspen Unified PIMS are trademarks of Aspen Technology, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005203/en/

Kate Jones

AspenTech

+44 (118) 92 26510

kate.jones@aspentech.com

Miika Eerola

Managing Director

St1 Refinery AB

+46 31 744 6300

miika.eerola@st1.com

Source: Aspen Technology, Inc.

FAQ

What is Aspen Technology's role in St1 Refinery's sustainability efforts?

Aspen Technology is providing advanced software solutions to help St1 Refinery optimize production, increase energy efficiency, and reduce CO₂ emissions.

What software is AspenTech deploying at St1 Refinery?

AspenTech is deploying Aspen DMC3 and Aspen GDOT to enhance production optimization at St1 Refinery.

How long has Aspen Technology partnered with St1 Refinery?

Aspen Technology has been in partnership with St1 Refinery for 12 years.

What are the expected benefits of the partnership for St1 Refinery?

The partnership aims to increase operating margins and support sustainability initiatives by optimizing energy use and reducing emissions.