Value Chain Synthesis in Algae Biorefineries under Uncertainty
M. Psycha, L. Mamos, A. C. Kokossis
Computer Aided Chemical Engineering, Volume 48, , pp. 829-834, 2020
process systems engineering; algae biorefineries; uncertainty analysis; value chain
The work focuses on exploring the uncertainties concerning the prices of chemicals and the involved markets regarding algae biorefineries. A product-oriented approach is analyzed which directly links the customization of product portfolios with market needs and behaviors. For this purpose, the microalga Dunaliella is selected leading to four interested markets (pharmaceuticals, nutraceuticals, cosmetics and food). A number of scenarios are studied referring to different market behaviors and the Cauchy distribution is used for the uncertainty analysis. The combination of markets is taken into consideration focusing on the achievement of a potential investment with high profitability and low risk. The combination of the cosmetic and the food sector constitutes the most suitable field to steer future investments and the carotenoids group includes the target-products to be considered during the formulation of product portfolios.