Bedford, Mass. - February 21, 2024 - Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in industrial software, today announced a strategic technology milestone with TenneT, a leading transmission system operator in Europe providing electricity to 43 million homes and businesses. TenneT recently completed implementation of its new Power Management System (PMS) which was developed using AspenTech OSI digital grid management solutions. The new PMS is an important step in TenneT’s energy transition strategy to integrate more energy from renewable sources into its grid and is critical to its evolution to an intelligent power grid that can be monitored and controlled in real-time to provide reliable, sustainable, safe and secure service.

TenneT’s new system is designed to address the ever-increasing complexity of its electricity transmission system operations in Europe by:

“The transition to a decarbonised energy economy is one of the great challenges of the modern age,” commented Mario Suykerbuyk, Chief Information Officer at TenneT. “TenneT is at the heart of this energy transition in Europe, and it is our responsibility to integrate vast and variable resources of renewable energy into the grid and transport it to end users, at speed and at scale and AspenTech’s partnership, innovation and technology are integral to success.”

To help manage the future power system, the AspenTech and TenneT teams will collaborate on a range of areas, including AI and machine learning, cyber-physical system resilience, proactive operation, forecasting, automation and intelligent decision support among others.

Antonio Pietri, President and CEO at Aspen Technology said, “Our ongoing partnership with TenneT clearly demonstrates how a strong, collaborative working relationship, in combination with the implementation of innovative digital technologies, is essential to meet reliability, security and sustainability objectives, and ultimately to successfully navigate the energy transition.”

AspenTech and TenneT have partnered on this multi-phased project since June 2021. With the successful collaboration on the PMS now in operation, the companies are now working on the next implementation phase focused on transmission management. For more information about TenneT and AspenTech solutions, visit the following resources:

About AspenTech

Aspen Technology, Inc. (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.

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