Novel technologies for the production of renewable products are now emerging for energy, fuels, and chemicals. The buzz generated by initial announcements can stimulate interest from investors and developers alike. Technical feasibility studies are needed to dissect the sometimes hyperbolic claims contained in press releases and public relations presentations. A technical feasibility study can be conducted in several different depths of analysis.
A preliminary technical feasibility analysis is often conducted very early in the development of a new technology. This early ‘sanity check’ consists of evaluating whether the claims for the concept are fantasy or have practical viability. More concretely, an early technical feasibility evaluates the process flowsheet, compares feed costs to product value, assesses scale of operation, and benchmarks the new process or product to the competition. The study typically includes an overview of regulatory and supply issues, and a preliminary economic study.
A more detailed technical feasibility study goes far beyond simply evaluating the flowsheet. It may encompass biochemical, chemical, engineering, intellectual property, environmental, economic, and operational considerations. The study will include an evaluation of strengths and weaknesses of a process, a review market size and availability, and may include an evaluation of confidential reports, patents, and papers. Process modeling and sensitivity studies are often used as tools to determine where the risks remain in the process deployment.
The full commercial technical feasibility study will be largely focused on the operational data, and capital and operating costs of the demonstration or pilot plant, and how these translate to the commercial environment, scale, and site. In addition, the study will evaluate environmental issues, infrastructure and utility requirements, emissions and waste treatment, and site considerations. Where an EPC has been engaged, an assessment of the detailed process design and construction plans may be included.
Technical feasibility studies are often conducted using a stage-gate approach, allowing clients to select specific items to be evaluated against established milestones at each stage. This permits course corrections to be made accordingly, and for GO/NOGO decisions. Assessment of technical feasibility can be a complex undertaking. As the project progresses the number of unknowns and ‘unknown unknowns’ shrinks, and the project risk is substantially reduced. Experienced scientists, engineers, and economists are all needed to properly and thoroughly conduct a technical feasibility study.
Large renewable energy and biochemical consulting firms certainly have experts in the more common areas of bio and renewable fuels, biomaterials, biomass and biomass power, biomaterials, biochemicals and biotechnologies. But, they also have expertise in a wide variety of specialty services like expert witness testimony, techno-economic analysis, due diligence, feasibility studies, budgeting, project management, technology assessment, insurance, due diligence, risk management, benchmarking, intellectual property, HAZOP, financial modeling, competitor analysis, and assistance with RIN and Low Carbon Fuel Standards (LCFS) matters. These firms should also be able to assist with other things like Aspen Plus®, logistics, bioreactor design, municipal solid waste remediation, syngas and bio-based product development, carbon credits, climate change analysis, environmental permitting, equipment sales, experimental validations, grant writing, IP strategy, life cycle analysis (LCA), plant operations, plant sales and auctions, and risk analysis (FMEA).
Lee Enterprises Consulting is the world’s premier bioeconomy consulting group, with over 100 highly qualified experts serving in all these areas. Take a 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. For the larger projects, we specialize in putting together full service, interdisciplinary teams with one point of contact. Call us at 1+ (501) 833-8511 or email us for more information.