scholarly journals 1,2—Propanediol Production from Glycerol Derived from Biodiesel’s Production: Technical and Economic Study

Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 5081
Author(s):  
Juan B. Restrepo ◽  
Carlos D. Paternina-Arboleda ◽  
Antonio J. Bula
Keyword(s):  
Net Present Value ◽  
Reaction Scheme ◽  
Primary Objective ◽  
Raw Material ◽  
Biodiesel Production ◽  
Base Case ◽  
Economic Potential ◽  
Economic Study ◽  
Present Value ◽  
Input Variables

For every nine tons of produced biodiesel, there is another ton of glycerol as a byproduct. Therefore, glycerol prices dropped significantly worldwide in recent years; the more significant biodiesel production is, the more glycerol exists as a byproduct. glycerol prices also impact the biodiesel manufacturing business, as it could be sold according to its refinement grade. The primary objective of this work was to evaluate the economic potential of the production of 1,2-propanediol derived from the biodiesel produced in Colombia. A plant to produce 1,2-propanediol via catalytic hydrogenation of glycerol in a trickle-bed reactor was designed. The plant comprised a reaction scheme where non-converted excess hydrogen was recycled, and the heat generated in the reactor was recovered. The reactor effluent was sent to a separation train where 98% m/m purity 1,2-propanediol was attained. Capital and operational costs were estimated from the process simulation. The net present value (NPV) and the modified internal return rate (MIRR) of the plant were used to assess the viability of the process. Their sensitivity to key input variables was evaluated to find the viability limits of the project. The economic potential of the 1,2-propanediol was calculated in USD 1.2/kg; for the base case, the NPV and the MIRR were USD 54.805 million and 22.56%, respectively, showing that, for moderate variations in products and raw material prices, the process is economically viable.

Undersaturated Hydrocarbon Reservoir Waterflooding: A simulation Approach to Performance Assessment

2021 ◽  
Author(s):  
Adekunle Tirimisiyu Adeniyi ◽  
Miracle Imwonsa Osatemple ◽  
Abdulwahab Giwa
Keyword(s):  
Oil Recovery ◽  
Net Present Value ◽  
Oil Production ◽  
Base Case ◽  
Present Value ◽  
Sweep Efficiency ◽  
Recovery Method ◽  
Solution Approach ◽  
Hydrocarbon Reservoir

Abstract There are a good numbers of brown hydrocarbon reservoirs, with a substantial amount of bypassed oil. These reservoirs are said to be brown, because a huge chunk of its recoverable oil have been produced. Since a significant number of prominent oil fields are matured and the number of new discoveries is declining, it is imperative to assess performances of waterflooding in such reservoirs; taking an undersaturated reservoir as a case study. It should be recalled that Waterflooding is widely accepted and used as a means of secondary oil recovery method, sometimes after depletion of primary energy sources. The effects of permeability distribution on flood performances is of concerns in this study. The presence of high permeability streaks could lead to an early water breakthrough at the producers, thus reducing the sweep efficiency in the field. A solution approach adopted in this study was reserve water injection. A reverse approach because, a producing well is converted to water injector while water injector well is converted to oil producing well. This optimization method was applied to a waterflood process carried out on a reservoir field developed by a two - spot recovery design in the Niger Delta area of Nigeria that is being used as a case study. Simulation runs were carried out with a commercial reservoir oil simulator. The result showed an increase in oil production with a significant reduction in water-cut. The Net Present Value, NPV, of the project was re-evaluated with present oil production. The results of the waterflood optimization revealed that an increase in the net present value of up to 20% and an increase in cumulative production of up to 27% from the base case was achieved. The cost of produced water treatment for re-injection and rated higher water pump had little impact on the overall project economy. Therefore, it can conclude that changes in well status in wells status in an heterogenous hydrocarbon reservoir will increase oil production.

scholarly journals Techno-economic analysis of catechin mix manufacture from camellia sinensis leaves using green extraction technology

2020 ◽  
pp. 44-44
Author(s):  
Adeyi Oladayo ◽  
Oke Olusola ◽  
Adeyi Abiola ◽  
Okolo Bernard ◽  
Nwosu-Obieogu Kenechi
Keyword(s):  
Economic Analysis ◽  
Camellia Sinensis ◽  
Net Present Value ◽  
Deep Eutectic Solvent ◽  
Base Case ◽  
Internal Rate Of Return ◽  
Extraction Technology ◽  
Assisted Extraction ◽  
Uncertainty Analyses ◽  
Input Variables

This work designed, modeled and performed economic analysis of the base case extraction and recovery of catechin mix (CM) from Camellia sinensis leaves (CSL) using deep eutectic solvent (DES) and microwave assisted extraction (MAE) with the assistance of SuperPro Designer software. Techno-economic analysis of three commercial scales of manufacture was also investigated and compared using profitability parameters. Sensitivity and uncertainty analyses were further carried out on the most viable commercial scale to determine input variable (s) of highest significance on the profitability of the process. The 3.30 kg CM/batch is the most economically desirable scale with return on investment of 324.65%, payback period of 0.31 year, internal rate of return of 163.83% and net present value of 1,059,595,224. Out of the input variables selected for the sensitivity and uncertainty analyses, CSL and DES costs have the least effect on the selected profitability parameters of the process.

scholarly journals Use of the correlation between input variables in estimating the risk of feedlot finishing of steers and young steers

2014 ◽  
Vol 86 (2) ◽  
pp. 945-954 ◽  
Author(s):  
PAULO S. PACHECO ◽  
JOÃO RESTLE ◽  
LEONIR L. PASCOAL ◽  
FABIANO N. VAZ ◽  
RICARDO Z. VAZ ◽  
...  
Keyword(s):  
Sensitivity Analysis ◽  
Stochastic Dominance ◽  
Net Present Value ◽  
Latin Hypercube Sampling ◽  
Risk Estimate ◽  
Present Value ◽  
Random Input ◽  
Financial Indicator ◽  
Input Variables ◽  
Diet Intake

The objective of this study was to evaluate the risk of feedlot finishing of steers (22.8 months) and young steers (15.2 months), using or not a correlation between the random input variables (data collected from 2004 to 2010) in the simulation of the Net Present Value (NPV) financial indicator. The animals were fed a diet containing roughage:concentrate ratio of 60:40 for 34 and 143 days, respectively, until they had reached a predetermined slaughter weight of 430 kg. For the NPV simulation, Latin Hypercube sampling was used, with 2000 interactions. The stochastic dominance analysis, test of differences between pairs of curves of cumulative distributions and sensitivity analysis were carried out. The NPV simulation using the correlation resulted in the best option for risk estimate. The confinement of young steers was the alternative of investment most viable than confinement of steers (NPV ≥ 0 of 80.4 vs. 62.3% in the simulation with correlation, respectively). Sensitivity analysis determined the following items had the greatest impact on the estimate of NPV: prices of fat and thin cattle, initial and final weights, diet costs, minimum rate of attractiveness and diet intake.

Economic Analysis Model for Biopower Plants Based on Biomass Logistics Networks and its Application in Heilongjiang Province, China

2012 ◽  
Vol 608-609 ◽  
pp. 356-360
Author(s):  
Jin Zhuo Wu ◽  
Li Hai Wang
Keyword(s):  
Net Present Value ◽  
Economic Feasibility ◽  
Economic Life ◽  
Raw Material ◽  
Base Case ◽  
Analysis Model ◽  
Business Taxes ◽  
Logistics Networks ◽  
Biomass Logistics ◽  
Biomass Availability

A mathematical model was developed to assess the economic feasibility of a biomass-based power plant in the Northeast of China. The objective of this model is to maximizes the net present value (NPV) of a biopower plant over its economic life, which subjects to the constraints of biomass availability, plant investment and operation & maintenance costs, plant capacity, transportation logistics, raw material and product pricing, financing, and business taxes. The model was applied in a biopower plant located in Wangkui County, China, which belongs to the National Bio-Energy Group Company Limited. Results showed that the maximum NPV of the Wangkui Biopower plant in the base case was approximately 117 million Yuan given the electricity sale price of 0.64 Yuan kWh-1 (or 0.75Yuan kWh-1 with tax). This study provides a reference for evaluating the economic feasibility of biopower plants based on biomass logistics networks in China.

scholarly journals The Energy, Economic and Environmental Efficiency of a PV Installation Cooperating with a Heat Pumpin the Central Part of Europe. Case study

2020 ◽  
Author(s):  
Sylwia Wciślik ◽  
Dagmara Kotrys-Działak
Keyword(s):  
Net Present Value ◽  
Heating System ◽  
Ecological Effect ◽  
Solar Irradiation ◽  
Rate Of Return ◽  
Economic Potential ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Central Heating

The paper addresses an analysis of the efficiency and profitability of the operation of a photovoltaic installation located in the geometric centre of Europe (near Białystok, Poland), where the intensity of solar irradiation is not too high compared to other European countries. It is calculated that in that place average solar irradiation being lower even by approx. 26 kWh than that for the whole Europe, which results in a 26% drop in the economic potential of the utilisation of solar energy for its conversion. A case study and an economic analysis show that without minimum funding amounting to 50% of the investment costs paid for the modernisation of a central heating system assisted by PV cells, the time of return of pecuniary expenditures exceeds 7 years. Apart from the Simple Pay-Back Time SPBT, discount indicators determined in the paper also include the net present value NPV and the internal rate of return IRR. Moreover, a direct ecological effect has been determined for such an investment.

scholarly journals ANALISIS KELAYAKAN USAHA PENGOLAHAN IKAN PADA INDUSTRI KECIL CASHEILA BANJARBARU

2018 ◽  
Vol 4 (3) ◽  
Author(s):  
Illya Yudha Maharani ◽  
Firda Nosita ◽  
Asruni Asruni
Keyword(s):  
Net Present Value ◽  
Raw Materials ◽  
Assessment Method ◽  
Payback Period ◽  
Raw Material ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Internal Rate ◽  
Financial Aspect

Abstract: The purpose of this study is to determine the feasibility of developing casheila business from financial and non financial aspects as well as analyzing the company's sentiment towards changes in raw material and decline in production. The method used is Descriptive Qualitative and Quantitative, which is to assess the business of casheila industry to the feasibility of business in the future. Based on the results of research from the marketing, technical and technological aspects of casheila business is feasible to run, while from the aspect of management and human resources is quite simple, it is necessary to improve the managerial system for business continuity in the long term. The result of financial aspect analysis through assessment method is feasible to run based on the calculation of PP (Payback period), Capital is for 1 year and a month, shorter than maximum Payback period. NPV (Net Present Value) is in Positive Value of Rp 1,191,596,184. While the result of the calculation of PI (Profitability Index) is 4.96. This shows the comparison of project benefits far greater than the cost required. And the value of IRR (Internal Rate of Return) is 24.54% greater than the prevailing interest rate of 14.08%. While the sensitivity analysis on the decrease of production of analytical results worth 44% and the increase in raw materials worth 43% experienced a significant change. Keywords: business feasibility study, small industry, financial aspect, non-financial aspect Abstrak: Tujuan Penelitian ini adalah untuk mengetahui kelayakan pengembangan usaha industri kecil casheila dari aspek finansial dan non finansial serta menganalisis sentivitas perusahaan terhadap perubahan kenaikan bahan baku dan penurunan produksi. Metode yang digunakan adalah Deskriptif kualitatif dan Kuantitatif, yaitu memberikan penilaian pada usaha industri casheila terhadap kelayakan usaha di masa yang akan datang. Berdasarkan hasil dari penelitian dari aspek pemasaran serta aspek teknis dan teknologi usaha industri casheila layak untuk dijalankan, sedangkan dari aspek manajemen dan sumber daya manusia masih terbilang sederhana, diperlukan peningkatan sistem manajerial untuk kelangsungan usaha dalam waktu panjang. Hasil analisis pada aspek finansial menunjukkan bahwa usaha cashiela layak untuk dijalankan. Berdasarkan hitungan PP (Payback periode), Periode Pengembalian Modal adalah selama 1 tahun 1 bulan. NPV (Net Present Value) bernilai Positif Sebesar Rp 1.191.596.184. Sedangkan hasil perhitungan Indeks Profitabilitas (PI/Profitability Index) yaitu 4,96, hal ini menunjukan perbandingan benefit proyek yang jauh lebih besar dari biaya yang dibutuhkan. dan nilai IRR (Internal Rate of Return) 24,54% lebih besar dari nilai bunga yang berlaku yakni 14,08%. Sedangkan dari analisis sensitivitas pada penurunan produksi hasil analisis senilai 44% dan pada kenaikan bahan baku senilai 44% mengalami perubahan yang signifikan. Kata kunci : studi kelayakan bisnis, industri kecil, aspek finansial, aspek non finansial

scholarly journals Renewable Energy Integration: Economic Assessment of Solar Energy to Produce Biodiesel at Supercritical Conditions

2018 ◽  
Vol 2018 ◽  
pp. 1-9 ◽  
Author(s):  
José A. León ◽  
Gisela Montero ◽  
Marcos A. Coronado ◽  
Conrado García ◽  
Héctor E. Campbell ◽  
...  
Keyword(s):  
Solar Energy ◽  
Fossil Fuels ◽  
Net Present Value ◽  
Economic Assessment ◽  
Economic Feasibility ◽  
Raw Material ◽  
Biodiesel Production ◽  
Energy Integration ◽  
Total Energy Consumption ◽  
Supercritical Conditions

In recent years, research on noncatalytic methods for biodiesel production has increased, mainly processes under supercritical conditions that allow the processing of waste vegetable oils (WVO) without the need to use catalysts, where the absence of catalyst simplifies the processes of purification of biodiesel. The high consumption of alcohol and energy to maintain the appropriate conditions of pressure and temperature of the reaction has turned the processes of supercritical conditions into an unfeasible method. However, the stages of biodiesel purification and methanol recovery are more straightforward, allowing the reduction of the total energy consumption by 25% compared to alkaline methods. Therefore, the present work describes a study through Aspen Plus® of the production of biodiesel by a process in supercritical conditions with WVO as raw material. Also, a solar collector arrangement was structured using the TRNSYS® simulator to supply energy to the process. To evaluate the economic feasibility of the proposed process, the installation of a pilot plant in Mexicali, Baja California, was considered. The internal rate of return (IRR) and the net present value (NPV) were determined for ten-year period. The planned system allows supplying solar energy, 69.5% of the energy required by the process, thus reducing the burning of fossil fuels and the operation cost. Despite the additional investment cost, for the solar collectors, the process manages to maintain a competitive production cost of USD 0.778/l of biodiesel. With an IRR of 31.7%, the investment is recovered before the fifth year of operation. The integration and implementation of clean technologies are vital in the development of the biofuels.

scholarly journals A Novel Biodiesel and Glycerol Carbonate Production Plant

2011 ◽  
Vol 9 (1) ◽  
Author(s):  
Nghi T. Nguyen ◽  
Yaşar Demirel
Keyword(s):  
Net Present Value ◽  
Economic Value ◽  
Value Added ◽  
Biodiesel Production ◽  
Glycerol Carbonate ◽  
Production Plant ◽  
Present Value ◽  
Carbonate Production ◽  
Market Values ◽  
Value Added Products

Crude glycerol is the byproduct of biodiesel production plant and the economic value of glycerol may affect the profitability of the biodiesel production plant. As the production rate of bioglycerol increases, its market values drop considerably. Therefore, conversion of bioglycerol into value-added products can reduce the overall cost, hence, leading to a more economical biodiesel production plant. In a direct carboxylation reaction, CO2 reacts with glycerol to produce glycerol carbonate and water. This study presents a direct comparison of the economic analysis of the conventional biodiesel production plant and the possible next generation biodiesel-glycerol carbonate production plant. At the end of 15-year project, the net present value of the biodiesel-glycerol carbonate production plant is $13.21 million higher than the conventional biodiesel plant. The stochastic model has predicted that the biodiesel-glycerol carbonate and conventional biodiesel production plants has about 30% and 63% chance of getting negative net present value, respectively. Heterogeneous catalyst, Ca3La1, is used for transesterification reaction to reduce separation steps in the biodiesel production process.

scholarly journals Analisis Kelayakan Pendirian Unit Produksi di Universitas (Studi Kasus Industri Minyak Atsiri)

2010 ◽  
Vol 3 (1) ◽  
pp. 12
Author(s):  
Ahmad, Mubin
Keyword(s):  
Financial Management ◽  
Net Present Value ◽  
Financial Analysis ◽  
Raw Material ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Business Units ◽  
High Investment ◽  
The Subject

The establishment of production unit requires fairly high investment, therefore to avoid the investment connducted which in fact will be unprofitable in the future, before implementing such investment, the comprehensive analysis or feasibility study is required, concerning marketing, technical financial management, and social-economyn alysis.From the result of feasibilitiy studythe level of feasibility for the establishment of production or business units is determined. In this case study, the subject of study is production of essential oil that serves as raw material for food, pharmacy, and parfume manufactures. Based on the analysis result of market and marketing aspects, as well as technical and Technology aspects, it was  ndicated that the proposal of production unitestablishment feasible to beaccepted. Likewise, the result of financial analysis with the methods of Net present value, Profitability Index(B /C ratio), Internal Rate of Return and payback period,indicated that the proposal of production unitestablishmeint is feasibleto be accepted.

Methodological bases of mineral resource potential assessment: international and Russian experience

2021 ◽  
Vol 2 ◽  
pp. 61-70
Author(s):  
I.G. Burtseva ◽  
Keyword(s):  
Mineral Resource ◽  
Net Present Value ◽  
Raw Materials ◽  
Mining Industry ◽  
Raw Material ◽  
Mineral Deposits ◽  
Annual Data ◽  
Russian Society ◽  
Present Value ◽  
Resource Potential

Тhe paper considers the main approaches to the valuation of mineral deposits. The valuation of mineral resources is widely used in countries with developed mining industry, such as the USA, Canada, Australia, etc. Monitoring the value of mineral assets allows you to track current changes in their structure and serves as a basis for the fair withdrawal of mining rent. The methods of financial and economic evaluation of mineral deposits are based on the standard methodology for investment projects assessment. The most widely used is the net present value method, which is used only for the estimation of commercial reserves. The resource assessment can be carried out using comparative methods and be used to improve the infor-mativeness of the assessment. The paper reviews the methods used to access the mineral resource potential of Russian regions, forms of statistical observation, and standards of the Russian Society of Appraisers. Contemporary Russian legislation in the field of mineral raw material valuation is based on international experience, where the main valuation method of mineral assets is the method of net present value. With the approval in 2017 of the statistical form "Information on the current market value of mineral reserves”, official annual data on the value of mineral raw materials in the subsurface appeared in Russia for the first time. The methodology for assessing the mineral resource potential of the region should include such stages as ranking mineral deposits according to their investment attractiveness, evaluating selected deposits with approved reserves using the net present value method with determining the budget efficiency of projects, and evaluating the gross potential value of resources of promising mineral resource objects.

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