Page 159 - CW E-Magazine (12-12-2023)

News from Abroad

ENHANCE CAPABILITIES
Aspen Technology introduces new software

updates for aspenONE
-
Aspen Technology, the US-based are an expanded set of models in-
industrial software firm, has introduced corporating AI, as well as a number of
new performance and sustainability integrations providing comprehensive
capabilities in aspenONE, the com- access to operational technology (OT)
pany’s portfolio of asset optimisation data.
solutions, spanning design, operations
and maintenance. Designed to acce- “AspenTech’s new release of
lerate customer digitalisation strategies aspenONE demonstrates breakthrough
and help them achieve advanced levels operations is critical and these new innovation with multiple AI-powered
of operational excellence, the new capabilities make it easier for customers software enhancements designed to
capabilities progress net zero initiatives, to overcome this challenge,” said help industrial customers achieve ope-
empower engineers with enhanced AI, Ms. Rasha Hasaneen, Chief Product & rational excellence,” said Mr. Peter
improve asset health and performance, Sustainability Officer. Reynolds, Principal Analyst, ARC
enable customers to achieve an inte- Advisory Group. “AspenTech customers
grated enterprise data management New aspenONE updates help cus- can now use their reconciliation and
system and more, the company said. tomers more quickly develop and imple- accounting software to track plant
ment reliable, impactful sustainability wide GHG emissions accurately and
“AspenTech is committed to inno- solutions. Updates also enable custom- consistently to lower their carbon
vating with customers and develop- ers to extract insights based on opera- intensity. Moreover, the capabilities
ing solutions to close the gap between tional data from across the enterprise, in this release make it easier to progress
available technology today and what is resulting in reduced inefficiencies and sustainability initiatives with sample
needed to achieve net zero. Optimising improved operational performance. models for carbon capture, hydrogen,
for efficiency and sustainability across Key features among the new updates battery recycling and more,” he added.

EARLY-STAGE FUNDING
NexPoint Capital invests in bioplastic startup,

PlantSwitch

US-based investment firm, Nex- ducts such as rice husks, wheat straw, NexPoint said its investment will
Point, has announced its investment of and other cellulose-rich byproducts in help the company continue to scale its
$2-mn in the early growth funding round combination with a polymer to make production capacity, increase its mar-
of PlantSwitch, a bioplastics manufac- sustainable bioplastics while upcycling keting capabilities and help deliver pro-
turing company with a carbon negative agricultural waste. ducts to existing and future customers.
production process that upcycles agri-
cultural waste to produce biodegradable In addition to its carbon negative PlantSwitch has already entered
and compostable resins for single-use production process, PlantSwitch claims supply contracts with several US-based
products. The investment is part of a its bioplastics are cheaper to produce restaurant and grocery store chains, and
total $7.7-mn raise in this early fundraise and more compostable than compara- it anticipatse needing additional manu-
round, to which other institutional inves- ble bioplastics. PlantSwitch recently facturing space in the next few years.
tors, along with NexPoint, subscribed. closed on a 52,000-sq.ft. manufactur-
ing facility in Sanford, North Carolina PlantSwitch has also recently
PlantSwitch’s manufacturing pro- (USA), which will increase its pro- received a $4.94-mn federal grant from
cess utilises agricultural waste pro- duction capacity. the US Department of Agriculture.

Chemical Weekly December 12, 2023 159
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