To tackle climate change, reduce solid waste, and improve air and water quality, we must phase out current practices and switch to more sustainable solutions, many of which do not exist today. These new solutions, also known as renewable technology, cleantech, Greentech, and sustainable tech, are a hot area for investment but face many challenges along the road from lab to marketplace. However, despite the challenges and a number of notable failures, commercializing renewable technologies can be important to society as well as financially rewarding.
When commercializing renewable technologies, there are many considerations including economics, scaling, and performance validation, as well as finding the resources needed to fund the entire endeavor. While most customers favor environmentally beneficial solutions, few are willing to pay extra for them. For this reason, it is important to understand a technology’s value as well as any available incentives. This information is fed into a techno-economic analysis (TEA), which should be performed periodically during development to ensure that commercial products can viably compete in the marketplace.
Scaling any technology is tough, and renewable concepts can be especially challenging because they are often capital-intensive and need extensive supporting infrastructure. Scale-up should be done in manageable increments and in such a way that demonstrates key performance metrics, such as throughput, yield, and efficiency. Demonstration projects present good opportunities to engage partners offering specific expertise and facilities and validate that performance meets environmental claims and customer needs.
Successful technology demonstrations and encouraging results from TEAs can be shared with potential investors and collaborators to acquire funding or participation in projects. These proof points that technology is progressing are vital to secure the resources needed to complete the commercialization process. Ideal funding and collaborative partners will not just provide funding and other resources but also be aligned with commercial goals.
The route from the lab to the marketplace for renewable technologies can be long and challenging but also rewarding. With over 150 experts worldwide, Lee Enterprises Consulting has experts in many specific clean and renewable areas. In addition to our expertise in broader fields such as renewable fuels, activated carbon, advanced biomaterials, ag biotech, agricultural waste, biomass technologies, emerging renewable technologies, energy markets, forestry biomass, municipal solid waste, nutraceuticals, plastics, organic synthesis, renewable power generation, renewable technologies, pulp & paper, synthetic biology, waste to energy, and anaerobic biogas, we also have experts in very specific areas such as animal foods, bio-based chemicals, bio fabricated proteins, biopharmaceuticals, carbon capture, cell-based meats, cogeneration, combined heat power, Fischer Tropsch, fungal bioproducts, good manufacturing processes, green diesel, hydrocolloids, low carbon fuel standards, methane, PCQI, producer gas, renewable electricity, renewable financing, renewable hydrogen, renewable natural gas, RINS, sewage treatment, soil amendments, the solid-state fermentation, and syngas.
Look at our experts and the services we provide. Most of our experts are also available to advise and serve as expert witnesses in bioeconomy litigation matters. We specialize in assembling full-service, interdisciplinary teams with one point of contact for larger projects. See a video about LEC here. Call us at 1+ (501) 833-8511 or email us for more information.