The purpose of this project is to consider and evaluate the economic attractiveness of a process producing 250,000 lb/h of acetic acid by the selective carbonylation of methanol via carbon monoxide with the use of an iridium tri-iodide catalyst. Initial cost estimates of this process will be completed prior to the completed rigorous design to ensure the process is economically viable and meets product specifications. A full cost analysis will then be made on the initial design to further verify the process will meet product specifications and is economically attractive to the business. A recommendation to continue investigating will be made based on the analysis of the investment cost and annual operating costs of this reaction/separation system.
An economic analysis was performed on the selected design. The total capital cost for this project is $145 million, with a yearly utility and incremental cost of $62 million and $90 million, respectively. The required ten-year return on investment was found to be 15%, when the Acetic Acid is sold at a price of $437 /ton. When the Acetic Acid is sold at $745/ton (achieves 15% 1-year ROI), an ROI of 547% is achieved for a 10-year period. In order to achieve a five-year ROI of 15%, the selling price of Acetic Acid is only increased to roughly $455/ton.
Wind power represents one of the most promising sources of renewable energy and improvements to wind turbine design and control can have a significant impact on energy sustainability. This proposal is about a new design for efficient VAWT. Typically, VAWT power output is generated from the difference between the forces on the forward and backward facing blades to the wind direction. That reduces their efficiency as compared to the Horizontal Axis Wind Turbine (HAWT). The current innovation, eliminates the forces on the backward facing blades using dynamic blades which improve their efficiency to be comparablewith the HAWT.
In addition, the turbine is fitted with aerodynamic brakes that safely stop the turbine at low and high wind speeds. This safety feature does not exist in any Vertical Axis Wind Turbine in the market. The innovation received the Accelerator to Commercialization award in 2014 from the state of Ohio and University of Cincinnati. Several small size prototypes were builtwhich validated the concept.
VAWTs are capable of catching wind from all directions which avoid the need for yaw mechanisms, rudders or downwind coning. The electric generators can be positioned near the ground and are easily accessible for maintenance. The new invention will revolutionize thewind turbines andwind farms technology by improving the VAWT efficiency and safety.