Wood and Aspen Technology form partnership to deliver optimized asset performance management solutions

Aspen Technology Inc., a global leader in asset optimization software, and Wood, a global engineering and consulting company, announced a new partnership that will offer Wood’s clients Aspen Mtell asset performance management (APM) technology for predictive and prescriptive maintenance. The partnership will enable global enterprises to improve the performance of their manufacturing and facility assets through a maintenance solution built upon industrial artificial intelligence and machine learning.

Aspen Mtell analyzes historical and real-time operational and maintenance data to discover the precise failure signatures that precede asset degradation and breakdowns, predict future failures, and prescribe detailed actions to mitigate problems.

Wood has decades of experience providing solution-independent asset performance consulting, as well as integrating and deploying specialty engineering services and real-time performance monitoring systems. The combination of this deep domain expertise of asset and operator challenges, with AspenTech’s extensive knowledge of the process manufacturing industry and proven AI-driven predictive and prescriptive maintenance solutions, provides a unique customized asset performance management solution for operators’ needs.