Techno-economic assessment and sensitivity analysis of glycerol valorization to biofuel additives via esterification

Glycerol is a valuable feedstock, produced in biorefineries as a byproduct of biodiesel production. Esterification of glycerol with acetic acid yields a mixture of mono-, di-, and triacetins. The acetins are commercially important value-added products with a wide range of industrial applications as fuel additives and fine chemicals. Esterification of glycerol to acetins substantially increases the environmental sustainability and economic viability of the biorefinery concept. Among the acetins, diacetin (DA) and triacetin (TA) are considered high-energy-density fuel additives. Herein, we have studied the economic feasibility of a facility producing DA and TA by a two-stage process using 100,000 tons of glycerol per year using Aspen Plus. The capital costs were estimated by Aspen Process Economic Analyzer software. The analysis indicates that the capital costs are 71 M$, while the operating costs are 303 M$/year. The gross profit is 60.5 M$/year, while the NPV of the project is 235 M$ with a payback period of 1.7 years. Sensitivity analysis has indicated that the product price has the most impact on the NPV.