Conclusions

This analysis evaluated the minimum ethanol selling price for a 2000 MTPD corn stover biorefinery integrated with hydrothermal liquefaction to produce biochemicals from the lignin co-product of lignocellulosic ethanol production.

A MESP of $1.03  0.19/gal was computed considering the production of lignin-derived biochemicals. The most influential factors on MESP identified were fixed capital investment, IRR, and feedstock price as well as cresols, catechol, and acetic acid prices. Total purchased equipment cost, total installed cost (TIC), and total capital investment are $114.5 MM, $345.7 MM, and $624.5 MM respectively.

Lignin-derived chemicals using HTL and separation of the produced chemicals are in the early stages of development, thus more investment in terms of fixed and operating cost might be required for future commercial biorefinery plants than those obtained in this analysis.

The uncertainty for ethanol biorefineries adopting this lignin-to-chemicals strategy could still face higher levels of price uncertainty. Fuel/ethanol production accompanied by HTL chemical production from lignin is a promising technological development that will increase the profitability and competitiveness of bio-products to fossil fuel-based products.

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CHAPTER 4. TECHNO-ECONOMIC ANALYSIS OF 2,5-DIMETHYLFURAN