Techno-Economic Feasibility, Scaling Up, Commercialization and Hurdles of Waste Management Strategies

Abstract

Techno-economic assessment (TEA) is a comprehensive analysis tool to evaluate whether a proposed product is cost competitive to its conventional counterpart. It combines technological and economical aspects to evaluate technical feasibility and economic viability of the project. Economic indices viz., net present value, return on investment, internal rate of return, payback time, benefit/cost ratio, etc., are conventionally used to compare with business as usual scenario to determine the economic viability of the waste to wealth venture. In this seminar, case studies related to valorization of lignocellulosic biomass for high value products formation will be discussed along with in-depth analysis of their economic viability. Further criteria adopted for efficient scaling up of bio-processes viz., technology selection and adaptation, modularity and standardization, automation and process control, energy efficiency, etc., along with hurdles for commercialization such as technological challenges, economic viability, uncertain market demand, financing and investment challenges, infrastructure and logistics issues, lack of standardization and certification will be discussed.