A techno-economic model represents your best current understanding of a technology. It combines lab data, engineering parameters, and costs to give a picture of your technology's economics at a commercial scale. Techno-economic models can be used to evaluate economic feasibility, guide R&D decisions, assess and mitigate risk, and manage development plans.
I approach techno-economic modeling with a software developer’s mindset. My models are user-friendly, modular, and clearly documented. With the techniques, software, resources, and templates that I've developed over 10+ years of practice and study, I can quickly and effectively help companies answer their most important questions.
Excel is my modeling platform of choice. It's standard toolkit in science, engineering, and business communities, and it's flexible enough to accommodate the unique situations encountered in modeling early-stage technologies.
Visual Basic is a programming language integrated with Excel. I use it to build custom functions and automate routines, like solving complex equations, running Monte Carlo analysis, and building tornado diagrams.
Process simulation tends to be best suited to late-stage technologies, but it is often useful for checking results and for solving complex material balances or phase equilibria.
The dashboard or user interface brings together the important inputs and results on a single screen, so that you can efficiently interact with the model and explore the interactions that drive your economics.
The process model combines lab data and engineering parameters to more fully characterize the system in the form of a material balance or stream table.
CapEx & OpEx model
The CapEx and Opex models estimate total system capital costs and operating costs (raw materials, utilities, labor, etc.) based on the process model.
Tornado diagrams help identify opportunities, risks, and areas of uncertainty, and they are one of my favorite tools for visualizing the relative importance of key parameters and guiding R&D efforts.
With a good techno-economic model, it's straightforward to numerically optimize for any set of input and output parameters.