Techno-economic analysis (TEA) is the combination of conceptual process design and production cost estimation activities. Algae cultivation refers to the growth and recovery of algal biomass in open ponds or photobioreactors. Many algae strains of interest produce oils that may be used as food or nutraceuticals, or upgraded to fuel-range hydrocarbons.
Techno-economic analysis is generally carried out by a chemical process engineer with relevant experience. For algae cultivation, this may include aquaculture, solid/liquid separation, piping network design, and earthworks design. A successful TEA requires an expert with proficiency in (and access to) flowsheet simulation software and capital cost estimation software.
Techno-economic analysis consultants may assist developers with plant design and simulation, equipment selection and sizing, capital cost estimation, and cost-of-consumables estimation. They can help developers communicate a technology’s commercial potential to investors and prioritize research areas with respect to economic impact. On the investor side, they may assist with due diligence activities including independent review of heat & material balances.
At Lee Enterprises Consulting, we have a number of highly qualified algae experts and consultants available to assist you with any related matters. Feel free to call or email us for more information.