Techno-Economic Assessment for Startup Companies in the Bioeconomy? Having experts who have been in the industrial biotech industry for over 30 years, we are encouraged to see many startup companies realizing and implementing TEAs (Techno-Economic Analysis) as a tool to assess their proposed processes. TEAs can help to elucidate the gap between current process status and commercial viability, where technical and/or economic hurdles lie, and where improvements need to be made, i.e., where you can get the most bang for your buck, etc.
Generally, TEAs are either developed internally or by an outside consultant. In our opinion, one critical element internally-developed TEAs lack is “the sniff test,” a third-party review as to whether what is proposed makes realistic sense. External, experienced consultants can bring a much-needed sanity check: Will the process actually work as proposed? Are there any “snakes in the grass” one should be looking out for? Do the operating and capital costs make sense? Is the proposed staffing appropriate/realistic? Do the timelines make sense? Are the timelines accounting for all facets of implementation, e.g., permitting?
With respect to assessing the DSP (downstream processing), we highly recommend bringing in a seasoned Chemical Engineer with agro-processing experience, particularly in a corn wet mill. Why? Many of the unit operations a Chemical Engineer is trained in are implemented in corn wet mills…and at a large, commercial scale. And these are typically the same unit operations required for most Industrial Biotech processes. Additionally, Chemical Engineers with corn wet mill experience (or other agro-processing experience) understand heat balances, energy conservation, water conservation, recycle streams, waste treatment, operating costs and characteristics, etc. Yes, this might add some additional cost – buying experience is not necessarily cheap, but the payback in cost avoidance, i.e., rework, redesign, etc. makes this an invaluable investment. Techno-Economic Assessment for Startup Companies in the Bioeconomy is not a luxury. It is a necessity.
Lee Enterprises Consulting (LEC) offers a wide range of services in biofuels, biochemicals, biotechnologies, biomaterials, synthetic biology commercialization, feedstocks, and hemp/cannabis. The company has business and financial services like due diligence, feedstock availability, grants and loans, and bio market research. The company also offers technical and engineering-related services like techno-economic analysis, environmental evaluations, feasibility studies, risk analysis, and expert witness engagements. The company also has strategic partnerships in place to assist clients with insurance, legal, accounting, plant fabrication, feedstock procurement. With over 150 experts worldwide, Lee Enterprises Consulting also has experts in anaerobic digestion, fermentation, biomass, conversion technologies for things like tires and railroad ties, organic synthesis, fuel additives, ethanol gas, biodiesel fuel including algae biofuels, solid-state and industrial fermentation, green energy grants, ag-biotech, agricultural waste, alcohol fuels, alternative proteins and animal-free products, sustainable foods, beverage fermentation, biocatalysis, biodiesel conversion, biogas production, biomass power, carbon intensity, co2 utilization, combined heat & power, Fischer-Tropsch technology, food waste, hydrothermal carbonization, industrial enzymes, landfill management, microbial fermentation, organic synthesis, plastic pyrolysis, plastic recycling, plastic waste, pyrolysis oil, reactor design, renewable identification number, the Renewable Fuel Standard (rfs2), solid recovered fuels, torrefaction and torrefied biomass, waste to energy, and waste-to-hydrogen. This is a multidisciplinary group of green energy consultants that is a virtual “one-stop-shop” for any client need and handles projects of all types and sizes.
Look at our 150+ 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. See a video about LEC here. Call us at 1+ (501) 833-8511 or email us for more information.