Impact of the forecast price on economic results for methanol production from olive waste

Puig-Gamero, M.; Trapero, Juan R.; Pedregal, Diego J.; Sánchez, Paula; Sánchez-Silva, L.

doi:10.1016/j.fuel.2021.120631

Cited by 7 publications

(2 citation statements)

References 48 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A Monte Carlo simulation was applied to calculate the Net Present Value (NPV) and the Levelized Cost of Energy (LCOE) to find the profitability of investing in state-of-the-art nuclear power plants over the next few years [27]. Stochastic simulations were also carried out to predict the price of methanol generated throughout the life cycle of a production plant [28]. Economic considerations related to reusing wastewater with the purpose of helping to reduce water scarcity were made using Monte Carlo [29].…”

Section: Literature Reviewmentioning

confidence: 99%

A stochastic approach to feasibility analysis of boiler replacement in educational buildings in Extremadura (Spain)

2022

View full text Add to dashboard Cite

Background Energy efficiency in buildings must be increased in order to reduce both energy intensity and greenhouse gas emissions. This study proposed the replacement of existing diesel boilers with biomass boilers, using four fuels (bulk pellets, wood chip, olive kernel and milled nutshell) to meet the energy demands of educational buildings in the region of Extremadura (Spain). High uncertainty surrounds biomass price prediction affecting the accuracy of economic feasibility analyses; thus, stochastic processes are suitable to support an improvement in the accuracy of predictions. The objective of the study is to demonstrate the feasibility of replacing diesel boilers with biomass boilers in order to revalorize agroforestry residues. Results A stochastic simulation of the feasibility of replacing oil-fired boilers with biomass-fired boilers was carried out in this research. Up to 20 million possible scenarios of 10 years of fuel price evolution were simulated by Monte Carlo method based on empirical price trends data. Regression models were built to relate Net Present Values with discount rates, whose statistical dependency was significant. Predictions on financial indicators showed biomass fuels as the most profitable investment, rather than fuel oil. Specifically, in this study, milled nutshell was found the most profitable fuel in the simulation runs, with Net Present Value = 27,151.09 € (standard deviation = 7939.88 €) and Internal Rate of Return = 16.9% (standard deviation = 3.4%). Conclusions Continuing to use oil-fired boilers costs more than the purchase and operation of new biomass-fired boilers, since the latter produce a higher cumulative cash flow than the initial investment within the next years. The payback period lies within the range of 4 to 6 years depending on the type of biomass fuel. Getting on the path to sustainability in education buildings can reduce up to 94.4% GHG emissions. This research contributes to promoting the use of low-emission fuels to meet the energy demand of educational buildings. Its results will have a positive effect in the region of Extremadura (Spain), as it boosts the appreciation of agro-industrial waste and economically strengthens the sector.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

A stochastic approach to feasibility analysis of boiler replacement in educational buildings in Extremadura (Spain)

2022

View full text Add to dashboard Cite

show abstract

“…A wide range of conversion technologies are available for energy valorization of the olive oil sector by-products, with different possible outputs. The existing literature explores the opportunities of producing: syngas, to obtain electrical and thermal energy, by feeding a heat and power biomass plant with olive pomace [55][56][57], olive stones [59,60,62], or olive tree pruning residues [54,61]; electric energy [68] through the combustion of pruning residues; methanol from olive pomace via gasification [69], or from OMW via anaerobic digestion [58,70]; biogas by means of anaerobic digestion of olive pomace [67,74] or OMWW [71]; biofuel-as a sustainable alternative of biofuels based on specialized grown crops [21]-obtained from pruning residues combustion [64], from solid part of olive pomace gasification [73], or from waste cooking oil through homogenously catalyzed esterification [19]; combustible products from olive pomace (torrefied biomass or charcoal obtained, respectively, through torrefaction or slow pyrolysis processes) as sustainable substitutes of fossil fuels, such as coal [46,65].…”

Section: Biofuel Production From Pruning Residues And/or Olive Mill Wastes or Waste Cooking Oilmentioning

confidence: 99%

Available Pathways for Operationalizing Circular Economy into the Olive Oil Supply Chain: Mapping Evidence from a Scoping Literature Review

et al. 2021

View full text Add to dashboard Cite

Circular economy (CE) is increasingly seen as a promising paradigm for transitioning agri-food systems towards more sustainable models of production and consumption, enabling virtuous and regenerative biological metabolisms based on strategies of eco-efficiency and eco-effectiveness. This contribution seeks to provide a theoretical and empirical framework for operationalizing the CE principles into the olive oil supply chain, that plays a central role in the agroecological systems of the Mediterranean region. A scoping literature review has been conducted in order to identify the available pathways so far explored by scholars for reshaping the olive oil supply chain from a circular perspective. The analyzed literature has been charted on the base of the circular pathway examined, and according to the supply chain subsystem(s) to which it refers. Results are discussed highlighting the main issues, the technology readiness level of the available pathways, the prevailing approaches and knowledge gaps. A synthetic evidence map is provided, framing visually the scrutinized pathways into the Ellen MacArthur Foundation’s CE ‘butterfly’ graph. The work is intended to be a valuable baseline for inquiring how circularity can be advanced in the specific supply chain of olive oil, and which are the strategic opportunities, as well as the barriers to overcome, in order to foster the transition.

show abstract

Role of catalyst topology in methanol synthesis

Hastadi,

Shah,

Bhatelia

et al. 2024

Can J Chem Eng

View full text Add to dashboard Cite

Methanol synthesis is carried out in a catalytic, packed bed reactor, where the shape and size of catalyst play a critical role in dictating overall reactor performance. In the current study, the effect of five different catalyst shapes including cylindrical, ring, trilobe, wagon wheel, and spherical on the reactor performance was investigated by conducting particle‐scale computational fluid dynamics (CFD) simulations. The predictions of pressure drop, velocity, temperature, reactant distribution and product yield were analyzed. When the performance of the simulated shapes was compared at the same tube Reynolds number of 50,000, internally contoured shapes (wagon wheel and ring) resulted in 40% higher pressure drops due to the tortuous flow path. However, the shape with internal void provided access for the reactant to reach the internal part of catalyst, resulting in higher yield produced per volume of catalyst. The wagon wheel shape produced 15% and 5% more yield per volume against the cylindrical shape and trilobe, respectively. The performance of the wagon wheel can be attributed to the lower diffusion limitation due to higher surface area available for reactant to penetrate the internal part of the catalyst.

show abstract

Impact of the forecast price on economic results for methanol production from olive waste

Cited by 7 publications

References 48 publications

A stochastic approach to feasibility analysis of boiler replacement in educational buildings in Extremadura (Spain)

A stochastic approach to feasibility analysis of boiler replacement in educational buildings in Extremadura (Spain)

Available Pathways for Operationalizing Circular Economy into the Olive Oil Supply Chain: Mapping Evidence from a Scoping Literature Review

Role of catalyst topology in methanol synthesis

Contact Info

Product

Resources

About