AspenTech Wins 2006 MITX Technology Award for Best Performance Management and Analysis Application
Related Article
New members, categories propel MITX awards program
Mass High Tech: The Journal of New England Technology
June 9, 2006
3rd Annual MITX Technology Awards Honor Leading Technology Advancements
On June 7, 2006, AspenTech was selected as an MITX Technology Awards winner in the category of Performance Management and Analytics. The MITX Technology Awards, produced by the Massachusetts Innovation & Technology Exchange, recognize innovative technologies developed in the New England area, as well as the individuals and organizations responsible for driving these advancements. Honorees for this year’s awards were cited during a ceremony at The Four Season’s Hotel in Boston. These prestigious awards confirm that great technologies are being created in New England and spotlight innovation within the broader national technology community.
The Awards ceremony was attended by 200 of the region’s top technology and business professionals. Additional award honorees included Nicholas Negroponte, Chairman, One Laptop Per Child and the Co-Founder of the MIT Media Lab, who was inducted into the MITX Innovation Hall of Fame. View the complete list of winners.
AspenTech won their award for Aspen PIMS-GO (Process Industry Modeling System – Global Optimization), the first commercially available global optimization capability designed to determine the global optimum for large-scale non-linear planning problems in the Petrochemical and Refining industries. Built on the state-of-the-art Aspen PIMS-XNLP platform, Aspen PIMS-GO technology utilizes the latest algorithmic procedures – developed in collaboration with the world’s leading academic researchers -- to solve large-scale global optimization problems in Aspen PIMS™, AspenTech’s flexible productivity tool for economic planning in the process industries. Results can yield gross margins that exceed those determined by the original model by as much as 3% of feedstock costs.
AspenTech’s pioneering work in refinery planning and global optimization builds on its tradition of technology leadership in the area of planning and scheduling. The recognition by MITX validates that AspenTech, in addition to being recognized by its clients for its extensive domain expertise, continues to be a vibrant and innovative force in the process industries.
About MITX
Established in 1996, MITX—the Massachusetts Innovation & Technology Exchange (MITX: “my-techs”) is a community—a constantly expanding business network—where technology, marketing and digital media intersect. Reaching more than 6,000 professionals in New England, MITX offers targeted benefits and growth opportunities designed to meet the unique requirements of its member audiences. MITX is the region’s premier association for thought leadership, technology trends, building business relationships and professional training and development. Members of the MITX community take advantage of events, sponsorships, speaking opportunities and networking to make profitable business connections, obtain competitive intelligence, and exchange innovative leadership, management and technical concepts. MITX is headquartered in Cambridge. For more information please go to www.mitx.org
Need Help?
Contact Us
