Abstract
With increased energy demand as it gets scarcer, a great deal of research is being carried out into alternatives to non - renewable energy resources. One of the promising studies is the biofuel production from micro algae. Microalgae are photosynthetic organisms and capture carbon dioxide, reducing emissions and providing valuable products (fuel, fertilizer, etc.). Thus, efficiency in the design and optimization of process related units are important. In this study, the optimal experimental conditions for Nannochloropsis Oculata were calculated under the constraints of the model equations and other process related constraints through simultaneous optimization approach. The economic evaluation of the process is also handled by introducing the uncertainty in the economic measures sampled from normal distribution to maximize the average profit. Unlike traditional approaches, the MINLP formulation, which is solved stochastically, dynamically, and simultaneously, provides more robust and reliable results, flexibility, improved decision making, reduced risks to be taken and a better understanding of risk factors.
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