Innovative solutions that simultaneously address environmental sustainability and economic viability are crucial in today’s rapidly evolving energy landscape. One pressing issue for many industries is the high cost of carbon taxes (there are carbon offsets as well, but that’s another beast that we’ll address in a separate post).
CO₂ taxes range from Uraguay’s $137.3/ton CO₂e to the United Kingdom’s $23.7/ton CO₂e, but the global average sits at ~$40/ton CO₂e (Visual Capitalist has a great illustration of this). But as we approach 2030, Paris Agreement commitments will kick-in and these taxes are likely to increase.
What if CO₂ capture didn’t have to be a cost center? And generated profits instead?
This blog post delves into a case study of a 2MW power station utilizing the AlgaeBloom™ system turning CO₂ capture from a cost into a revenue generator – and a very profitable one at that!
The Client: A 2MW power station
Just your typical natural gas-powered power station, albeit 2 MW is tiny in the grand scheme of things. The client utilized a few Caterpillar Natural Gas GenSets, and we worked on just 1 to give them a flavor of the AlgaeBloomTM’s economics – spoiler: they were very impressed!
Here’s a view of what we were working with at the inlet:
| Client’s Power station flue gas parameters | |
| Power Generation Capacity | 2 MW |
| Power Generator Type | Gas Engine |
| Fuel Type | Natural Gas |
| Flue Gas Rate | 10,720 kg / hr |
| Flue Gas Temperature | 498⁰C |
| Supply Pressure | 0.2 barg (max.) |
| Flue Gas Composition (vol. basis) | 5% CO₂, 10% H2O, 5% O₂ & 80% N₂ |
| Total CO₂ flowrate in flue gas | 900 kg / hr |
Our mission was simple:
- lower CO₂ emissions – target ~70% CO₂ capture rate
- Do it profitably – drop the levelized cost of CO₂ capture to < $0 / ton
We’ll dive through the mechanics of the AlgaeBloom system in another post, but here’s the outcome:
| AlgaeBloomTM System Yield | |
| CO₂ Capture Rate | 4,967 Ton/year |
| Microalgae Production Rate | 2,759 Ton/year |
| Net Microalgae Production Rate | 2,483 Ton/year |
| CO₂ Captured : Microalgae Production | 2 kg CO₂ : 1 kg microalgae |
| AlgaeBloomTM Economics | |
| CAPEX | US$ 10.38 Mil |
| OPEX | US$ 1.46 Mil/yr |
| Microalgae Sale Price | US$ 5 /kg * |
| Revenue | US$ 12.4 Mil/yr |
| Levelized Cost of Carbon Capture | US$ -573.36 / ton CO₂ |
*assumes low end of Spirulina price. Actual range is US$ 5 – $20 / kg
Mission achieved!
Where carbon taxes sit at an average of ~US$40 / ton CO₂
And conventional carbon capture ranges from US$40 – 60 / ton CO₂
The algae Bloom has turned this cost into a profit center – earning ~ US $ 573.35 / ton CO₂
This drops the plant payback to a whopping sub-2year payback.
This truly demonstrates the power of the AlgaeBloomTM system, but here are a few behind-the-scenes reasons on why it outperforms conventional microalgae systems:
High yield per unit area – AlgaebloomTM yields 1.7 grams per liter vs conventional systems, which only perform at 0.3 grams per liter. Over 5x as high.
Continuous CO₂ Capture – Although microalgae only grows during daylight hours, the system actually captures CO2 continuously 24/7
High Yield of Food-Grade Microalgae – The system’s design ensures a high yield of food-grade spirulina, which positions it to meet the increasing demand for sustainable and nutritious food sources.
Economic Viability – With a CAPEX payback period of less than 2-years, the AlgaeBloom™ system offers an attractive financial proposition with long term high ROI.
Explore the Full Potential of AlgaeBloom™
For more information on how the AlgaeBloom™ system can benefit your operations, visit our website or contact our team of experts. Join us in pioneering a greener, more sustainable world with innovative solutions tailored to your needs.
