Techno-Economic Analysis of Biofuel Production Plants Producing Biofuels Using Fisher Tropsch Synthesis

Abstract

To address rising climate change problems, one significant task is reducing pollution in the transport sector by substituting fossil with biomass-based fuels. One of the potential production methods is by Fischer-Tropsch (FT) synthesis. Both gasoline and diesel types of fuel can be produced. For FT fuels a carbon containing feedstock is needed as an end product, it can be processed in multiple ways using various systems, however the main parts of production are biomass preparation and gasification, where afterwards clean-up of the synthetic gas is required. A liquid form from the syngas is achieved via FT synthesis, after which hydroprocessing is needed for separating naphtha, diesel, and lighter-molecularweight hydrocarbons or other components. For comparison of biofuel plants, the biomass of choice, production processes and end products were analysed, as well as economic feasibility of technologies, to determine whether the costs and investments required are reasonable for the possible outcome.

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“…Latvia's advantage is that several biomass gasification plants are already operational, so biofuel production can be integrated using existing technologies. As it is analysed in [45], FT synthesis is considered a perspective and cost-effective technology for biofuel production [44], [45]. The biomass used in the plant is woodchips, which through the gasification process produce syngas [45].…”

“…As it is analysed in [45], FT synthesis is considered a perspective and cost-effective technology for biofuel production [44], [45]. The biomass used in the plant is woodchips, which through the gasification process produce syngas [45]. Wood biomass pre-treatment, gasification, synthetic gas (syngas) purification, and FT synthesis are the four primary processes of the second-generation Fisher-Tropsch fuel production process.…”

“…The technology for producing biofuel is Fisher Tropsch synthesis. Investment costs, O&M costs and added value information source is publication 'Techno-Economic Analysis of Biofuel Production Plants Producing Biofuels Using Fisher Tropsch Synthesis' [45].…”

“…It is assumed as an optimistic scenario because new technologies are exploited 3 years from now. Initial values are calculated from data that are available [2], [22], [45], [82]. The added value calculation methods for both existing and new products are explained below.…”

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“…A well-developed credit system can not only effectively reduce the cost of information collection, but also reduce the negative choice and moral hazard caused by information asymmetry and reduce the occurrence of financial gaps and financial crises. At present, in order to improve the regional financial ecological environment, many regions are actively preparing to build financial security zones [31,32]. However, improving the financial ecological environment cannot simply be equated with building a financial safety zone, and these two concepts cannot be confused with each other.…”