Abstract
A simulation model was constructed in order to evaluate the economic feasibility of a number of well-known or hypothetical conversion processes of biomass to a variety of energy carriers and chemical products. The model was constructed in such a way that it allowed a general approach, with possibilities for testing the impact of different hypotheses and scenarios about market evolutions and technological developments on the overall economics of a process. A case study of the Biostil process for ethanol production in the EC shows that large amounts of subsidies are necessary for profitable production with this process. The price of by-products has a great impact on its profitability.
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