The technology is widely used in the chemicals, petrochemicals, pharmaceuticals and food and beverage industries to accelerate innovation, improve process design and operation, streamline R&D and manage technology risk. "The combination of high-fidelity predictive models and real-time process data play an increasingly important role in the digitalization of operations in the process industry. It is important to take the process knowledge that is already available in product and process development and to map it in predictive models, which can then be used to add value in the digitalization environment in every step of the lifecycle," states Eckard Eberle, CEO of Business Unit Process Automation. "PSE helps us significantly here, because now we can integrate model-based technologies from PSE in our applications in the entire plant lifecycle. This makes us even better equipped to meet the specific requirements of our customers." Costas Pantelides, Managing Director of PSE, says: “We are delighted to become part of the Siemens organization. Our technology and know-how are highly complementary to Siemens’ existing products, and our combined portfolio will build on Siemens’ already strong position in digitalization in the process industries, to deliver unprecedented benefits to our customers throughout the process and product lifecycle.”
Siemens has already been working with PSE successfully since June 2018 within a strategic partnership. As part of this initiative, new model-based solutions have been developed: for plant performance monitoring and forecasting, soft sensing, real-time optimization, nonlinear model-predictive control and operator training based on detailed process models. These solutions are based on the powerful combination of process models, which contain in-depth process knowledge, with real-time and historical process data. This provides the plant operator with efficiency and effectiveness gains by improve process control and maintenance planning, e.g. by predicting catalyst lifespans or coke build-up in furnaces.
Siemens plans to purchase 100 percent of the share capital of PSE and to integrate its business into the Business Unit Process Automation, which is part of Siemens Digital Industries. The London-based company employs about 160 people worldwide. Closing of the transaction is planned for the fourth quarter of 2019. Both companies have agreed not to comment on the financial details of the transaction.