When developing new technology concepts, it is important to consider the economic implications of the designs.VTT links economic considerations to process design from an early stage, iterating as the work progresses. This approach brings efficiency to development work and indicates the practical feasibility of the new concept early on, giving valuable input for the development work.
Comprehensive understanding of state-of-the-art process design methods and tools
Linked to VTT’s technology development, we have strong expertise in designing production concepts for novel product and process ideas and in evaluating their preliminary technical and economic performance.
We can further convert these preliminary designs into process simulation models to refine techno-economic evaluation and develop extensive cost models suitable for pro-forma analysis. For example, we can enhance the process economy through model-based process integration (PI) studies or by developing cash flow analyses for different scenarios.
Recently, we have focused on screening novel bioproduct process concepts and scenarios and developing methods and tools suitable for early stage techno-economic analysis.
Process development for different industries
Our strong expertise in early stage process design and techno-economic analysis methods and tools quarantees efficient delivery of novel concept assessments. We are able to utilise VTT’s versatile experimental capabilities in the data validation required in the evaluations.
We have provided our expertise to different process industries, investors and public authorities such as the forest, chemical, and food industries, and biomaterials and energy sector. Level of detail has varied from early stage techno-economic analysis to studying cost implications of retrofitting existing production lines with novel technologies.
Our strongest expertise lies within wood-based products and processes, and the analysis of their integration impacts using state-of-the-art techno-economic analysis methods.
Techno-economic analysis of new concepts is a generic tool in process and product development process of all process industries and authorities requiring a systematic assessment of new ideas.