for instance the insipid characteristic of microalgal cultures, and the fact that
microalgae cells possess trivial sizes, the process of biomass production and subsequent conversion into biofuels become prohibitively expensive. As a consequence, from an economic outlook, the large-scale production of biofuels from
microalgae achieves a somewhat less appealing status, compared to the other
biomass types and sources. The current chapter delivers an outline of the bioeconomy analysis for microalgae-derived biofuels. In addition, case studies on
microalgal biofuel production are presented along with cost estimations and the
necessary strategies to augment its commercial viability.
Keywords Techno-economic assessment Á Biofuel production Á Microalgae-based
biofuels
1 Introduction
Biofuels are widely perceived to be significantly prospective alternatives to
the traditional and non-renewable fossil fuels, attributing to their characteristics
such as sustainability, and the capabilities to reduce the emission of greenhouse
gases, thereby achieving the ‘green’ status (Demirbas 2007). Recently, global
biofuel production has witnessed a rapid growth, increasing from 19.651 million
tons oil equivalent (toe) in 2005 to 74.847 million toe in 2015 (BP 2016). Biofuels
can be derived from a wide array of biomass materials, including agricultural crops,
municipal wastes, agricultural and forestry byproducts, and aquatic products. Out of
all these sources, microalgae are commonly regarded to be the most suitable
feedstock, owing to its high energy intensity, high average photosynthetic efficiency
(50 times that of the terrestrial plants), and high capabilities of oil production
(12,000 L biodiesel per hectare) (Gao et al. 2011). In addition to these
characteristics, conceivable exploitation of barren lands and water bodies makes
microalgae a perfect substitute for biomass which requires high agricultural input
(Hill et al. 2006; Quinn and Davis 2015).
Driven by the aforementioned advantages, both industries and academia have
initiated agendas to devote time and efforts for microalgal cultivation and biofuels
production, thereby leading to their considerable and continuable development. The
global production of Spirulina biomass had increased from almost nil to nearly
3500 tons (1000 tons = 1016 tons) from 1975 to 1999 (Pulz and Gross 2004). The
microalgae industry had evolved with an annual production of 7000 tons of dry
matter in 2004 (Brennan and Owende 2010). The majority of the companies
(*78%) contributing to the algal biofuel growth are based in the USA, followed by
Europe (*13%), and auxiliary states (*9%) (Bahadar and Khan 2013). To date,
the US Department of Energy (DOE) has spent about USD 85 million to develop
algal biofuels through some 30 R&D initiatives or so. In addition, for the purpose of
manufacturing algal oil, Aurantia, a Spanish renewable energy company, and the
158
K. Peng et al.
microalgae cells possess trivial sizes, the process of biomass production and subsequent conversion into biofuels become prohibitively expensive. As a consequence, from an economic outlook, the large-scale production of biofuels from
microalgae achieves a somewhat less appealing status, compared to the other
biomass types and sources. The current chapter delivers an outline of the bioeconomy analysis for microalgae-derived biofuels. In addition, case studies on
microalgal biofuel production are presented along with cost estimations and the
necessary strategies to augment its commercial viability.
Keywords Techno-economic assessment Á Biofuel production Á Microalgae-based
biofuels
1 Introduction
Biofuels are widely perceived to be significantly prospective alternatives to
the traditional and non-renewable fossil fuels, attributing to their characteristics
such as sustainability, and the capabilities to reduce the emission of greenhouse
gases, thereby achieving the ‘green’ status (Demirbas 2007). Recently, global
biofuel production has witnessed a rapid growth, increasing from 19.651 million
tons oil equivalent (toe) in 2005 to 74.847 million toe in 2015 (BP 2016). Biofuels
can be derived from a wide array of biomass materials, including agricultural crops,
municipal wastes, agricultural and forestry byproducts, and aquatic products. Out of
all these sources, microalgae are commonly regarded to be the most suitable
feedstock, owing to its high energy intensity, high average photosynthetic efficiency
(50 times that of the terrestrial plants), and high capabilities of oil production
(12,000 L biodiesel per hectare) (Gao et al. 2011). In addition to these
characteristics, conceivable exploitation of barren lands and water bodies makes
microalgae a perfect substitute for biomass which requires high agricultural input
(Hill et al. 2006; Quinn and Davis 2015).
Driven by the aforementioned advantages, both industries and academia have
initiated agendas to devote time and efforts for microalgal cultivation and biofuels
production, thereby leading to their considerable and continuable development. The
global production of Spirulina biomass had increased from almost nil to nearly
3500 tons (1000 tons = 1016 tons) from 1975 to 1999 (Pulz and Gross 2004). The
microalgae industry had evolved with an annual production of 7000 tons of dry
matter in 2004 (Brennan and Owende 2010). The majority of the companies
(*78%) contributing to the algal biofuel growth are based in the USA, followed by
Europe (*13%), and auxiliary states (*9%) (Bahadar and Khan 2013). To date,
the US Department of Energy (DOE) has spent about USD 85 million to develop
algal biofuels through some 30 R&D initiatives or so. In addition, for the purpose of
manufacturing algal oil, Aurantia, a Spanish renewable energy company, and the
158
K. Peng et al.