Techno-economic study of bioethanol production from olive wastes cake (OWC) in Iran

In this study, a techno-economic analysis of bioethanol production from the olive waste cake in Iran has been performed. The biofuel plant with a capacity of 300 tonnes/day of feedstock was simulated using Aspen HYSYS V10, and the economic results were obtained from Aspen Process Economic Analyzer. Total capital investment (TCI), minimum ethanol selling price (MESP), and utility costs were compared for the production of ethanol with different purity( 97%, 98%, and 99%). Based on the results, 98% was chosen as the basis for ethanol purity. Mass and energy balances, the sizing parameter, and the cost of the main equipment were estimated. The values of TCI and total production cost (TPC) for this case were around 9,413,951 $ and 24,812,426 $/year, respectively. MESP, internal rate of return, and payout period were obtained 0.95 $/L, 20.4%, and 19.1 years, respectively. The net present value will be positive after almost 14 years. A 3-column configuration was suggested in the distillation unit, which resulted in a slightly higher TCI than the base case, while the raw material values and TPC declined notably. An MESP of 0.30 $/L was achieved for the suggested process, which approves this suggestion's profitability.