Commercialization of cellulose nanocrystals (CNC) presents opportunities for a wide range of new products. Techno‐economic assessments can provide insightful information for the efficient design of conversion processes, drive cost‐saving efforts, and reduce financial risks. In this study, we conducted techno‐economic assessments for CNC production using information from the USDA Forest Products Laboratory Pilot Plant, literature, and discussions with experts. Scenarios considered included variations related to greenfield, co‐location, and acid recovery. Operating costs, capital investment, minimum product selling price (MPSP), financial performance metrics, and the effect of drying and higher reaction yields on CNC manufacturing financials were estimated for each scenario. The lowest MPSP was found for the co‐location without acid recovery scenario, mainly driven by capital investment. Risk analysis indicates 95% probability of manufacturing costs lower than USD 5900/t of CNC (dry equivalent) and a MPSP lower than USD 7200/t of CNC (dry equivalent). Finally, based on our analysis, we provide guidance on process optimizations that can improve the economic performance of CNC manufacturing process. In addition, a risk profile of the CNC manufacturing business is provided. © 2017 Society of Chemical Industry and John Wiley & Sons, Ltd

Conversion economics, risk, and financial analyses for an industrial facility manufacturing cellulose micro‐ and nanofibrils (CMNF) from wood pulp is presented. Process data is based on mass and energy balances from a pilot facility in the University of Maine. Here, CMNF is produced from untreated wood pulp by using disk refining, with an assumed production capacity of 50 t (dry metric ton equivalent) per day. Stand‐alone and co‐location manufacturing facilities were simulated and assessed. Minimum product selling prices (MPSP, estimated to achieve a 16% hurdle rate) for different scenarios ranged from USD 1893/t CMNF to USD 2440/t CMNF (dry equivalent). Pulp and energy consumption were identified as major cost drivers. Consequently, it was found that the use of alternative feedstock, in addition to co‐location configuration, can reduce MPSP by 37%. Since estimated MPSP of CMNF is lower than cellulose nanocrystals (CNC) – both estimated to achieve a 16% hurdle rate, we believe market adoption of CMNF in the near term is more promising, regardless of specific applications. This study provides state of the art business intelligence information on the conversion economics, risk, and financial analyses for CMNF manufacturing. Thus, the data represents valuable information to entrepreneurs, R&D scientists, and product developers who plan to adopt CMNF in their processes and products. © 2017 Society of Chemical Industry and John Wiley & Sons, Ltd

Lignin micro- and nanoparticles (LMNPs) synthesized from side-streams of pulp and paper and biorefinery operations have been proposed for the generation of new, high-value materials. As sustainable alternatives to particles of synthetic or mineral origins, LMNPs viability depends on scale-up, manufacturing cost, and applications. By using experimental data as primary source of information, along with industrial know-how, we analyze dry and spherical LMNPs obtained by our recently reported aerosol/atomization method. First, a preliminary evaluation toward the commercial production of LMNPs from industrial lignin precursors is presented. Following, we introduce potential LMNPs applications from a financial perspective. Mass and energy balances, operating costs, and capital investment are estimated and discussed in view of LMNPs scalability prospects. The main potential market segments identified (from a financial perspective) include composite nanofillers, solid foams, emulsion stabilizers, chelating agents, and UV protection. Our technical, financial, and market assessment represent the basis for R&D planning and efforts to lower the risk related to expected industrialization efforts. Manufacturing costs were estimated between 870 and 1170 USD/t; also, minimum selling prices varied from 1240 and 1560 USD/t, depending on raw materials used. Sensitivity analysis indicated that manufacturing cost can be as low as 600 USD/t, depending on the process conditions considered. Finally, based on the financial assessment, potential applications were identified.

In investing in a new venture, companies aim to increase their competitiveness and generate value in scenarios where volatile markets, geopolitical instabilities, and disruptive technologies create uncertainty and risk. The biobased industry poses additional challenges as it competes in a mature, highly efficient market, dominated by petroleum‐based companies, and faces significant feedstock availability and variability constraints, limited technological data, and uncertain market conditions for newly developed products. Thus, decision‐making strategies and processes for these investment projects must consider solid risk estimation and mitigation measures. Focusing on the biobased industrial sector, this paper critically reviews state‐of‐the‐art probabilistic and deterministic methodologies for assessing financial risk; discusses how a complete risk analysis should be performed; and addresses risk management, listing major risks and possible mitigation strategies. © 2017 Society of Chemical Industry and John Wiley & Sons, Ltd

Fractionation represents a promising methodology to refine technical lignin and facilitate lignin valorization. Many lignin fractionation processes have been developed on a laboratory scale, but none have been implemented on...