Addressing Common Development Issues across Industry: Economic Perspective and Evaluation

The development of technology for the advancement of process industries is an area researcher and engineers work in to continuously improve society. However, these developments becoming commercial realities are not always easy to achieve. Multiple items can make what appears to be a good idea, something that in the end is not commercially viable. Some of the economic items that are used to determine if these advances are to become commercial realities include the CAPEX and OPEX of the process unit, market availability of feedstocks and/or products, process safety, environmental constrains, and/or availability of project funding.<br />This session looks to discuss some of these issues, and how researchers and engineers can identify ways to mitigate these risks so that new technology and developmental ideas can become commercially viable opportunities.