A techno-economic assessment (TEA) determines the feasibility of a particular process or technology. The result of the evaluation helps determine the next steps of development. For example, whether the process should be progressed to the pilot plant stage, modified, or researched further. Our team of engineers can evaluate any process at various stages of development.
We can develop a TEA for any sustainable process. The evaluation comprises several steps: selecting process routes, estimating capital and operational costs, forecasting sales and prices, and the estimation of financial indicators such as return of investment, payback and net present value.
The tools that we use to evaluate the feasibility of a specific process are based on the best practices established in the industry. We build robust economic models, comprising macro-economic data, combined with an applied sensitivity analysis to generate accurate and reliable forecasts and estimates.
We integrate our process design expertise and the use of process simulation software with our economic models.
This enables our process engineers to rapidly estimate the relative capital and operational cost and further evaluate projects by understanding the economic implications of engineering decisions and produce comprehensive, accurate estimates.
By applying these techniques, we can deliver bids and estimates early in the engineering process, faster and with less risk.
Chemical Process Engineer