Cited by 26Algal biology and biofuel productionBiodiesel Production and ApplicationsBioenergy crop production and management

The financial feasibility of microalgae biodiesel in an integrated, multi-output production system

Doshi, Amar, Pascoe, Sean, Coglan, Louisa, Rainey, Thomas·2017·Biofuels Bioproducts and Biorefining

Abstract

Abstract The stagnant development of microalgae‐based industries suggests a need for a broader assessment of its commercial potential, particularly given its ability to utilize industrial waste effluents in cultivation and produce multiple outputs from the biomass, including an environmentally superior biofuel. This study assessed the financial feasibility of producing microalgae biodiesel from transesterification, together with feed and fertilizer in a multi‐output production system, integrated with a complementary waste‐producing industry. The multi‐output system allowed for the price of biodiesel to be sold at the competitive market price of US$1.50/L rather than US$24.18/L, if it were produced as the only primary output. The high‐value feed and fertilizer offset the low revenues of biodiesel to ensure the financial feasibility of the production system. Sensitivity analyses of these estimates indicated where improvements could further increase the financial appeal of this multi‐output microalgae production system. In particular, a 20% improvement in the cost‐efficiency of lipid extraction and transesterification processes was found to have a 17‐fold increase in the net present value. The results suggest that multi‐output systems have several benefits for the potential of a microalgae‐based industry, namely the synergistic benefits of integrating microalgae production with complementary industries and the investment appeal of microalgae‐based biofuels that can be priced competitively while still being financial feasible. Although alternative conversion processes (e.g. fermentation and thermochemical routes) would be key to the increased cost‐efficiency of biofuel production, the development of integrated multi‐output microalgae industries could prompt private and more importantly, policy‐led investment in development of the industry. © 2017 Society of Chemical Industry and John Wiley & Sons, Ltd

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Crossref · 10.1002/bbb.1802

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Authors
Doshi, A., Pascoe, S., Coglan, L., & Rainey, T.
Affiliations
  • Commonwealth Scientific and Industrial Research Organisation (AU)
  • Queensland University of Technology (AU)
Corresponding author
Doshi, Amar
Venue
Biofuels Bioproducts and Biorefining
Publisher
Wiley
Published
2017-08-30
Volume
11
Issue
6
Pages
991-1006
ISSN
  • 1932-1031 (ISSN-L)
  • 1932-104X
OpenAlex
W2753269315
Cited by
26
References
62
Citations by year
2026: 1 · 2025: 3 · 2022: 5 · 2021: 7 · 2020: 4 · 2019: 4 · 2018: 2
FWCI
0.73
Type
journal article
Language
en
Open access
closed
Locations
  • Biofuels Bioproducts and Biorefining (publishedVersion)
  • QUT ePrints (Queensland University of Technology) (submittedVersion)
Topics
  • Physical Sciences › Energy › Renewable Energy, Sustainability and the Environment › Algal biology and biofuel production
  • Physical Sciences › Engineering › Biomedical Engineering › Biodiesel Production and Applications
  • Life Sciences › Agricultural and Biological Sciences › Agronomy and Crop Science › Bioenergy crop production and management
Keywords
microalgae biodiesel, financial feasibility, transesterification, microalgae feed, integrated biorefinery, net present value, sensitivity analysis

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