Aspen Technologies, a global leader in industrial software, announced a partnership with Saudi Aramco, the world’s leading integrated energy and chemicals group, to launch a unique integrated modeling and optimization solution that will enable capital intensive industries to have practical, cost-effective carbon capture and utilization (CCU) solutions.

The new solution is based on technology developed by Saudi Aramco in collaboration with the Korea Advanced Institute of Science and Technology (KAIST). The technology is one of a number of carbon reduction optimization technologies that Saudi Aramco has licensed to Aspen through its subsidiary Saudi Aramco Technologies (SATC). The aim is to identify the most promising pathways for carbon capture and utilization by taking into account economics, process design, operational constraints, and carbon reduction. This innovation is designed to help companies make informed decisions, support the deployment of carbon management strategies, and optimize and accelerate sustainable operations.

“This advanced and reliable optimization algorithm, developed by Saudi Aramco, provides users with a visual hyperstructural interface that enables them to visually develop solutions and cost curves,” said Dr. Aqil Jamal, chief technologist for carbon management at Saudi Aramco R&D Center.

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Dr Bashir Dabbousi, Director of Technology Strategy and Planning at Saudi Aramco, added: “By leveraging our complementary strengths, combined with integrated modelling and optimization, we will help users make informed decisions about their carbon strategies and drive the Sustainable Development Goals.”

Dr Vikas Dhole, Managing Director of Aspen’s Sustainable Industry Division, said: “Our agreement with Saudi Aramco demonstrates the critical importance of collaboration between technology innovators to address the carbon challenge and create a sustainable future. “By partnering with Saudi Aramco, Aspen will introduce innovative solutions to help companies quickly assess potential opportunities and new innovative solutions to reduce their carbon footprint while ensuring profitability.”

The solution will help businesses:
• Optimize CCU configuration to find the best balance between emission reduction and profitability objectives
• Assess the impact of uncertainty in energy costs, carbon charges, raw material and product costs
Develop short -, medium – and long-term production and strategic plans, including consideration of the best CCU options to achieve sustainable development goals while being profitable