Development and validation of a technoeconomic analysis tool for early-stage evaluation of bio-based chemical...

By using cost correlations and standard scale-factors, a spreadsheet-based early-stage cost estimation tool was developed. Named BioPET (Biorenewables Process Evaluation Tool), this tool allows users to specify up to seven primary unit operations--fermentation, separation, three catalytic stages, and purification--along with key parameters for each. BioPET then computes an estimated minimum selling price for the pathway. Model validation was conducted by selecting three molecules (ethanol, succinic acid, and adipic acid), and comparing BioPET's results to literature values and to results from a commercial process design tool. BioPET produced virtually identical prices to the process design tool, although the costs were not identically distributed amongst the categories. BioPET produced estimates that were within 40% of other literature values at low feedstock costs, and within 5% at high feedstock costs.