Formic acid synthesis using CO2 as raw material: Techno-economic and environmental evaluation and market potential

Mar Pérez-Fortes,Jan C Schöneberger,Aikaterini Boulamanti,Gillian Harrison,Evangelos Tzimas

doi:10.1016/j.ijhydene.2016.05.199

Mar Pérez-Fortes, Jan C Schöneberger + Show 3 more

Open Access

https://doi.org/10.1016/j.ijhydene.2016.05.199

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Abstract

The future of carbon dioxide utilisation (CDU) processes, depend on (i) the future demand of synthesised products with CO2, (ii) the availability of captured and anthropogenic CO2, (iii) the overall CO2 not emitted because of the use of the CDU process, and (iv) the economics of the plant. The current work analyses the mentioned statements through different technological, economic and environmental key performance indicators to produce formic acid from CO2, along with their potential use and penetration in the European context. Formic acid is a well-known chemical that has potential as hydrogen carrier and as fuel for fuel cells.This work utilises process flow modelling, with simulations developed in CHEMCAD, to obtain the energy and mass balances, and the purchase equipment cost of the formic acid plant. Through a financial analysis, with the net present value as selected metric, the price of the tonne of formic acid and of CO2 are varied to make the CDU project financially feasible. According to our research, the process saves CO2 emissions when compared to its corresponding conventional process, under specific conditions. The success or effectiveness of the CDU process will also depend on other technologies and/or developments, like the availability of renewable electricity and steam.

Highlights

Carbon capture and utilisation (CCU) stands for the capture of anthropogenic CO2 and its subsequent use in a synthesis process that utilises CO2 as a carbon molecule carrier
CO2 utilisation processes involve a number of products to be synthesised, and as such, the status of the technology varies according to each synthesised product
The current paper evaluates the potential of formic acid (FA) synthesised by CO2 to decrease CO2 emissions if compared to the conventional process of FA synthesis, and analyses its competitiveness compared to current market conditions

Summary

Introduction

Carbon capture and utilisation (CCU) stands for the capture of anthropogenic CO2 and its subsequent use in a synthesis process that utilises CO2 as a carbon molecule carrier. Note that CDU processes may consume CO2 from power plants or heavy industries, and CO2 from the air, generated as by-product or naturally occurring, as from natural gas extraction. Independently of the development of capture in power plants, the CDU processes can evolve towards a mature market, if CO2 is (http://creativecommons.org/licenses/by/4.0/). CO2 utilisation processes involve a number of products to be synthesised, and as such, the status of the technology varies according to each synthesised product. CDU should be considered as part of the CO2 abatement options (i) preventing the use of fossil fuel as raw material, and (ii) avoiding net CO2 emissions to the atmosphere, if compared to the benchmark process

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