Bentley Systems Announces Seequent’s Acquisition of Geothermal Simulation Leader Flow State Solutions
October 11 2023 - 2:00AM
Business Wire
Combines Seequent’s Geological Modeling with
Flow State Solutions’ Geothermal Simulation Software
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure
engineering software company, today announced that Seequent, The
Bentley Subsurface Company, has signed an agreement to acquire Flow
State Solutions, an industry leader in geothermal simulation
software. The move further solidifies Seequent’s position as the
most comprehensive subsurface software provider for the geothermal
industry.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231011787324/en/
An example of a geological model built in
Leapfrog Energy being utilized for reservoir simulation in Flow
State Solutions software Volsung. Image courtesy of Flow State
Solutions.
Flow State Solutions’ geothermal reservoir, wellbore, and
surface network simulation software helps project developers and
operators better understand geothermal resources for asset
development and optimization and improved well performance.
Combining Flow State Solutions’ Volsung portfolio with Seequent’s
capabilities creates the most robust end-to-end solution for
reservoir analysis available. Detailed models of the subsurface
built in Leapfrog Energy can be utilized in Flow State Solutions’
simulation environment to build a full picture of a geothermal
asset.
Geothermal industry leaders are already utilizing both solutions
to better understand their resources. Simon Webbison, Vice
President, Exploration and Resource Management, Ormat Technologies
Inc., said, “Ormat Technologies is one of the largest and most
active geothermal companies globally, and we are delighted to see
the combination of Seequent and Flow State Solutions software
capabilities through this acquisition. We already use both
companies’ software to better understand our geothermal assets and
predict performance, and we are looking forward to working with the
joint team to continue driving our success.”
Graham Grant, CEO, Seequent, said, “We are delighted to welcome
the Flow State Solutions team to Seequent. Geothermal has the
potential to help solve the world’s biggest energy challenges. With
this acquisition, Seequent’s best-in-class subsurface analysis
software enables a full understanding of geothermal asset
performance.”
Flow State Solutions co-founder Jonathon Clearwater, who joins
Seequent as Technical Domain Expert, Reservoir Engineering, said,
“We are excited to join Seequent’s energy team. By combining
Seequent’s expertise and our technical capability in geothermal
modeling, we are looking forward to making a significant
contribution to the renewable energy transition through improved
management of natural resources.”
Image 1:
An example of a geological model built in Leapfrog Energy being
utilized for reservoir simulation in Flow State Solutions software
Volsung. Image courtesy of Flow State Solutions.
Image 2:
Simulated density changes in a geothermal reservoir, modeled and
visualized in Flow State Solutions software Volsung. Image courtesy
of Flow State Solutions.
Webinar demonstrating workflow that enables seamless
interaction between Seequent and Flow State Solutions software.
##
About Bentley Systems
Bentley Systems (Nasdaq: BSY) is the infrastructure engineering
software company. We provide innovative software to advance the
world’s infrastructure – sustaining both the global economy and
environment. Our industry-leading software solutions are used by
professionals, and organizations of every size, for the design,
construction, and operations of roads and bridges, rail and
transit, water and wastewater, public works and utilities,
buildings and campuses, mining, and industrial facilities. Our
offerings, powered by the iTwin Platform for infrastructure digital
twins, include MicroStation and Bentley Open applications for
modeling and simulation, Seequent’s software for geoprofessionals,
and Bentley Infrastructure Cloud encompassing ProjectWise for
project delivery, SYNCHRO for construction management, and
AssetWise for asset operations. Bentley Systems’ 5,000 colleagues
generate annual revenues of more than $1 billion in 194
countries.
www.bentley.com
About Seequent
Seequent, The Bentley Subsurface Company, helps organisations to
understand the underground, giving them the confidence to make
better decisions faster. Seequent builds world-leading technology
that is at the forefront of Earth sciences, transforming the way
our customers work. Every day we help them develop critical mineral
resources more sustainably, design and build better infrastructure,
source renewable energy, and reduce their impact on the
environment.
Seequent operates in 120 countries while proudly maintaining
headquarters in New Zealand.
Newsroom: https://www.seequent.com/company/news-media/
Seequent on LinkedIn and Twitter.
© 2023 Bentley Systems, Incorporated. Bentley, the Bentley logo,
Bentley Infrastructure Cloud, Bentley Open, AssetWise, Flow State
Solutions, iTwin, Leapfrog, Leapfrog Energy, MicroStation,
ProjectWise, Seequent, SYNCHRO, and Volsung are either registered
or unregistered trademarks or service marks of Bentley Systems,
Incorporated or one of its direct or indirect wholly owned
subsidiaries. All other brands and product names are trademarks of
their respective owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231011787324/en/
Press: Liz Crawshaw +64 224610899 Liz.Crawshaw@seequent.com
Follow us on Twitter: @BentleySystems
Bentley Systems (NASDAQ:BSY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bentley Systems (NASDAQ:BSY)
Historical Stock Chart
From Jul 2023 to Jul 2024