TY - JOUR
T1 - Conversion Economics of Forest Biomaterials
T2 - Risk and Financial Analysis of CNC Manufacturing
AU - Abbati de Assis, Camilla
AU - Houtman, Carl
AU - Phillips, Richard
AU - Bilek, E. M.Ted
AU - Rojas, Orlando J.
AU - Pal, Lokendra
AU - Peresin, Maria Soledad
AU - Jameel, Hasan
AU - Gonzalez, Ronalds W.
PY - 2017/7
Y1 - 2017/7
N2 - Commercialization of cellulose nanocrystals (CNC) presents opportunities for a wide range of new products. Techno-economic assessments can provide insightful information for the efficient design of conversion processes, drive cost-saving efforts, and reduce financial risks. In this study, we conducted techno-economic assessments for CNC production using information from the USDA Forest Products Laboratory Pilot Plant, literature, and discussions with experts. Scenarios considered included variations related to greenfield, co-location, and acid recovery. Operating costs, capital investment, minimum product selling price (MPSP), financial performance metrics, and the effect of drying and higher reaction yields on CNC manufacturing financials were estimated for each scenario. The lowest MPSP was found for the co-location without acid recovery scenario, mainly driven by capital investment. Risk analysis indicates 95% probability of manufacturing costs lower than USD 5900/t of CNC (dry equivalent) and a MPSP lower than USD 7200/t of CNC (dry equivalent). Finally, based on our analysis, we provide guidance on process optimizations that can improve the economic performance of CNC manufacturing process. In addition, a risk profile of the CNC manufacturing business is provided.
AB - Commercialization of cellulose nanocrystals (CNC) presents opportunities for a wide range of new products. Techno-economic assessments can provide insightful information for the efficient design of conversion processes, drive cost-saving efforts, and reduce financial risks. In this study, we conducted techno-economic assessments for CNC production using information from the USDA Forest Products Laboratory Pilot Plant, literature, and discussions with experts. Scenarios considered included variations related to greenfield, co-location, and acid recovery. Operating costs, capital investment, minimum product selling price (MPSP), financial performance metrics, and the effect of drying and higher reaction yields on CNC manufacturing financials were estimated for each scenario. The lowest MPSP was found for the co-location without acid recovery scenario, mainly driven by capital investment. Risk analysis indicates 95% probability of manufacturing costs lower than USD 5900/t of CNC (dry equivalent) and a MPSP lower than USD 7200/t of CNC (dry equivalent). Finally, based on our analysis, we provide guidance on process optimizations that can improve the economic performance of CNC manufacturing process. In addition, a risk profile of the CNC manufacturing business is provided.
KW - Cellulose nanocrystals
KW - CNC
KW - Conversion economics
KW - Risk analysis
KW - Techno-economic analysis
UR - http://www.scopus.com/inward/record.url?scp=85020653487&partnerID=8YFLogxK
U2 - 10.1002/bbb.1782
DO - 10.1002/bbb.1782
M3 - Article
AN - SCOPUS:85020653487
SN - 1932-104X
VL - 11
SP - 682
EP - 700
JO - BIOFUELS BIOPRODUCTS AND BIOREFINING: BIOFPR
JF - BIOFUELS BIOPRODUCTS AND BIOREFINING: BIOFPR
IS - 4
ER -