2-3 Data-driven Business Evaluation Framework for Microalgae to Produce Biofuel

Abstract

Microalgae are potential biomass to produce biofuel due to the high yield. In large-scale production, polyculture-based microalgae in open raceway pond were promising. However, bringing the concept to the business of microalgae is challenging because the cultivation to the down-streaming process of microalgae consists of several complex activities and unique combination. The detail and structured evaluation in one framework were essential to optimize the production as a beginning step to achieve the profit. This research proposed the business evaluation framework using the economic cost-based analysis (CBA). The business evaluation framework was developed and implemented to the microalgae in an open raceway pond and used to evaluate the cost based on 10 ha cultivation. Based on the analysis, the production cost of bio-crude oil between 391.1 - 1,815.5 JPY kg^-1 by utilizing the wastewater as a nutrient.