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Operations Research, Systems Engineering and Industrial Engineering Commons

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Mechanical Engineering

Techno-economic analysis

2015

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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering

Techno-Economic Analysis Of Advanced Biofuel Production Based On Bio-Oil Gasification, Qi Li, Yanan Zhang, Guiping Hu Sep 2015

Techno-Economic Analysis Of Advanced Biofuel Production Based On Bio-Oil Gasification, Qi Li, Yanan Zhang, Guiping Hu

Industrial and Manufacturing Systems Engineering Publications

This paper evaluates the economic feasibility of a hybrid production pathway combining fast pyrolysis and bio-oil gasification. The conversion process is simulated with Aspen PlusĀ® for a 2000 t d-1 facility. Techno-economic analysis of this fast pyrolysis and bio-oil gasification pathway has been conducted to assess the economic feasibility. A total capital investment of $438 million has been estimated and the minimum fuel selling price (MSP) is $5.6 per gallon of gasoline equivalent. The sensitivity analysis shows that the MSP is most sensitive to internal rate of return, fuel yield, biomass feedstock cost, and fixed capital investment. Monte-Carlo simulation ...