(91d) Process Simulation Models Parameterizing Multi-Sector Technoeconomic Framework to Test Viability of Emerging Bioprocesses

With recent advances in the development of bioprocesses, several new production schemes utilizing renewable feedstock have emerged for a wide range of chemicals. Many of these have demonstrated promising outcomes in a lab/small scale set up. Hence, lately many efforts were devoted to validate the feasibility of these processes using technoeconomic framework which intended to be used by researchers as one of the major tools to quantify the economic viability and test the potential market vulnerability.

While several exist, one of the major challenges in optimizing such a multifaceted framework is to obtain accurate process parameters, corresponding variable costs and emission estimates for the production of biochemicals. This contribution will demonstrate the manner by which these parameters are generated and subsequently linked to a Multi-Sector technoeconomic framework. Wholly, these models have the capability to capture various attributes of fundamental research and link those with the higher level economic sector, guiding the monetary investment towards the selection of robust candidate biochemicals. The resulting decision support tool can be used to study the existing market and test the viability of bioprocesses while accounting for inter and intra sector interactions in the existing value chain. The traits of this tool, bolstered with detailed process models, make it an apt venue to test various renewable process technologies, provide insights towards future production strategies and guide the research to produce bio-based products.