Techno-Economic Analysis and Feasibility of Industrial-Scale Activated Carbon Production from Agricultural Pea Waste Using Microwave-Assisted Pyrolysis: A Circular Economy Approach

Abstract

This paper examines a novel approach to activated carbon (AC) production that uses pea waste (PW) and to what extent it is economically competitive with current production methods. Additionally, the outcome is to provide a detailed economic analysis to understand whether this process is viable. The focus of this production route and the economic analysis will be on a United Kingdom (UK) basis. The plant will be located within the north UK to minimise storage and transportation costs. It also has extensive links to other clusters of nearby industries that would produce from this process in air pollution control or wastewater treatments. The overall production process is detailed, and detailed equipment specifications, including the sizing of equipment and utility requirements, were also given. Material balance calculations are carried out to assess the performance and improve process design. An economic analysis is performed to study the potential of biomass-to-AC conversion costs and commercialisation viability. The project’s investment is about £100 million. The cost of the plant can be recovered from year 3 (mid) for the 20-year life of the plant. The Net Present Value (NPV) is based on cumulative cash flow. The NPV is calculated as GBP 4,476,137,297.79 for 2020, and the associated internal rate of return (IRR) and the return on investment (ROI) for the project are 55% and 52%, respectively.