History & highlights

PSE is launched in 1997 as the first spin-off company from the Centre for Process Systems Engineering (CPSE) at Imperial College London (ICL). Imperial College still maintains an equity holding via its Imperial Innovations subsidiary.
At launch, the company acquires all rights to technologies developed at the CPSE since the Centre's inception in 1990, including the already well-established gPROMS^® simulation and optimisation engine.
A further royalty agreement provides PSE with rights to subsequent developments in these areas in exchange for continued funding of the CPSE's fundamental R&D activities.
The company is self-funding from the start, when initial customers Mitsubishi Chemical, DuPont and Dow Chemical adopt gPROMS.
In 2000 PSE signs a major long-term development agreement with ABB resulting in rapid acceleration of the gPROMS platform development.
PSE wins the 2001 Queen's Award for Innovation, and is in the TechTrack 100 list of UK's fastest-growing technology companies (position 31) for the second year running.
In Q4 2003, a heavily-oversubscribed rights issue in support of development of PSE's international business.
PSE Americas and PSE Japan operations are set up in New Jersey and Yokohama respectively in 2004.
Venture capital investment from Close Ventures (now Albion Ventures LLC) for worldwide sales & marketing expansion in June 2007.
In the same month PSE wins the MacRobert Award for Engineering Innovation, the UK's most prestigious engineering award.
PSE Korea begins operation 1 January 2008.
PSE records its best-ever year in 2008, with over 60% revenue growth.
The company moves to its current Hammersmith Grove London HQ in September 2008 to accommodate expansion.
PSE provides the cover story for the November 2008 edition of Chemical Engineering.
Development of world-leading fuel cell technology for lead customor Toyota.
The 2009 launch of gPROMS v3.1 completes the transition to a completely re-architected gPROMS "platform for the next decade"
PSE acquires the Imperial College SAFT advanced thermodynamics technology, to be implemented as gSAFT.
PSE develops gSOLIDS in conjunction with major customer Procter & Gamble.
The 2010 launch of the gPROMS-based engineering solutions – gFLARE, gFuelCell, gSOLIDS and gCRYSTAL – enable PSE to address "engineering desktop" users for the first time, setting a new direction for the company.