Techno-economic Assessment Methodology for Ultrasonic Production of Biofuels

Abstract

Many market introductions fail due to economic reasons and not because of process performance. A techno-economic assessment (TEA) tool can help in making good choices during process development and raise the success rate of market introduction. In this chapter, the advantages of performing a TEA in early development stage of an innovative technology are highlighted. Seeing the current state of ultrasound technology, a TEA can help to steer further research into the most interesting pathway. The chapter, therefore, elaborates on the methodology that can be used to perform such a TEA and on the specific components which should be taken into account when applying a TEA on the ultrasonic production of biofuels and chemicals. Finally, a review is provided on the existing scientific literature concerning the economic performance of ultrasound technology.