Search Results (764)

A comprehensive techno-economic assessment was undertaken to determine the viability of bioethanol production from sugarcane bagasse in Thailand through organosolv fractionation, incorporating three distinct catalytic systems: sulfuric acid, formic acid, and sodium methoxide. Rigorous process simulations were executed using Aspen Plus, facilitating the derivation of detailed mass and energy balances, which served as the foundational input for downstream cost modeling. Economic performance metrics, including the total annualized cost and minimum ethanol selling price, were systematically quantified for each scenario. Among the evaluated configurations, the formic acid-catalyzed organosolv system exhibited superior techno-economic attributes, achieving the lowest unit production costs of 1.14 USD/L for ethanol and 1.84 USD/kg for lignin, corresponding to an estimated ethanol selling price of approximately 1.14 USD/L. This favorable outcome was attained with only moderate capital intensity, indicating a well-balanced trade-off between operational efficiency and investment burden. Conversely, the sodium methoxide-based process configuration imposed the highest economic burden, with a TAC of 15.27 million USD/year, culminating in a markedly elevated MESP of 5.49 USD/kg (approximately 4.33 USD/L). The sulfuric acid-driven system demonstrated effective delignification performance. Sensitivity analysis revealed that reagent procurement costs exert the greatest impact on TAC variation, highlighting chemical expenditure as the key economic driver. These findings emphasize the critical role of solvent choice, catalytic performance, and process integration in improving the cost-efficiency of lignocellulosic ethanol production. Among the examined options, the formic acid-based organosolv process stands out as the most economically viable for large-scale implementation within Thailand’s bioeconomy. Full article

Mining (1) operations in remote areas (2) face significant challenges related to energy supply, high fuel costs, and limited infrastructure. This study investigates the potential for achieving energy independence (3) and resilience (4) in such environments through the integration of renewable energy sources (5) and battery–electric mining equipment. Using the “Studena Vrila” underground bauxite mine as a case study, a comprehensive techno-economic and environmental analysis was conducted across three development models. These models explore incremental scenarios of solar and wind energy adoption combined with electrification of mobile machinery. The methodology includes calculating levelized cost of energy (LCOE), return on investment (ROI), and greenhouse gas (GHG) reductions under each scenario. Results demonstrate that a full transition to RES and electric machinery can reduce diesel consumption by 100%, achieve annual savings of EUR 149,814, and cut GHG emissions by over 1.7 million kg CO₂-eq. While initial capital costs are high, all models yield a positive Net Present Value (NPV), confirming long-term economic viability. This research provides a replicable framework for decarbonizing mining operations in off-grid and infrastructure-limited regions. Full article

Increased food production demands, labor shortages, and environmental concerns are driving the need for innovative agricultural technologies. However, effective adoption depends critically on aligning robot innovations with the needs of farmers. This paper examines the alignment between the needs of farmers and the robotic systems used in row crop farming. We review current commercial agricultural robots and research, and map these to the needs of farmers, as expressed in the literature, to identify the key issues holding back large-scale adoption. From initial pool of 184 research articles, 19 survey articles, and 82 commercial robotic solutions, we selected 38 peer-reviewed academic studies, 12 survey articles, and 18 commercially available robots for in-depth review and analysis for this study. We identify the key challenges faced by farmers and map them directly to the current and emerging capabilities of agricultural robots. We supplement the data gathered from the literature review of surveys and case studies with in-depth interviews with nine farmers to obtain deeper insights into the needs and day-to-day operations. Farmers reported mixed reactions to current technologies, acknowledging efficiency improvements but highlighting barriers such as capital costs, technical complexity, and inadequate support systems. There is a notable demand for technologies for improved plant health monitoring, soil condition assessment, and enhanced climate resilience. We then review state-of-the-art robotic solutions for row crop farming and map these technological capabilities to the farmers’ needs. Only technologies with field validation or operational deployment are included, to ensure practical relevance. These mappings generate insights that underscore the need for lightweight and modular robot technologies that can be adapted to diverse farming practices, as well as the need for farmers’ education and simpler interfaces to robotic operations and data analysis that are actionable for farmers. We conclude with recommendations for future research, emphasizing the importance of co-creation with the farming community to ensure the adoption and sustained use of agricultural robotic solutions. Full article

This paper aims to find an efficient optimization algorithm to bring down the cost function without compromising the stability of the system and respect the operational constraints of the Hybrid Renewable Energy System. To accomplish this, MATLAB simulations were carried out using three optimization techniques: Grey Wolf Optimization (GWO), Teaching–Learning-Based Optimization (TLBO), and Multi-Objective Particle Swarm Optimization (MOPSO). The study compared their outcomes to identify which method yielded the most effective performance. The research included a statistical analysis to evaluate how consistently and stably each optimization method performed. The analysis revealed optimal values for the output power of photovoltaic systems (PVs), wind turbines (WTs), diesel generator capacity (DGs), and battery storage (BS). A one-year period was used to confirm the optimized configuration through the analysis of capital investment and fuel consumption. Among the three methods, GWO achieved the best fitness value of 0.24593 with an LPSP of 0.12528, indicating high system reliability. MOPSO exhibited the fastest convergence behaviour. TLBO yielded the lowest Net Present Cost (NPC) of 213,440 and a Cost of Energy (COE) of 1.91446/kW, though with a comparatively higher fitness value of 0.26628. The analysis suggests that GWO is suitable for applications requiring high reliability, TLBO is preferable for cost-sensitive solutions, and MOPSO is advantageous for obtaining quick, approximate results. Full article

From the perspective of credit ratings, this paper studies the impact of air pollution on corporate credit costs and the impact mechanism. Based on 2007–2022 data on A-share listed companies in the Chinese capital market, this paper uses a two-way fixed effects model to examine the impact of air pollution on corporate credit costs and the impact mechanism. The results show that air pollution increases the credit costs for enterprises because air pollution affects the sentiment of rating analysts, leading them to give more pessimistic credit ratings to enterprises located in areas with severe air pollution. The moderating effect analysis reveals that the effect of air pollution on the increase in corporate credit costs is more pronounced for high-polluting industries, manufacturing industries, and regions with weaker bank competition. Further analysis reveals that in the face of rising credit costs caused by air pollution, enterprises tend to adopt a combination strategy of increasing commercial credit financing and reducing the commercial credit supply to cope. Although this response behavior alleviates corporations’ own financial pressure, it may have a negative effect on supply chain stability. This paper provides new evidence that reveals that air pollution is an implicit cost in the capital market, enriching research in the fields of environmental governance and capital markets. Full article

This research aims to analyze the evolution of productivity and efficiency in tractors featuring varying propulsion system designs through the development of a parametric modeling approach. Recognizing that large row-crop tractors represent a significant capital investment—ranging from USD 0.4 to over 0.8 million for current-generation models—and that machinery costs constitute a substantial share of farm production expenses, this study addresses the urgent need for data-driven decision-making in agricultural enterprises. Utilizing consolidated OECD Code 2 tractor test data for all large row-crop John Deere tractors from the MFWD era to the latest generation, the study evaluates tractor performance across multiple productivity and efficiency indicators. The analysis culminates in the creation of a robust, user-friendly parametric model (R² = 0.9337, RMSE = 1.0265), designed to assist stakeholders in making informed decisions regarding tractor replacement or upgrading. By enabling the optimization of productivity and efficiency while accounting for agronomic and timeliness constraints, this model supports sustainable and profitable management practices in modern agriculture. Full article

This study investigates strategies for urban-scale renewable energy integration through a photovoltaic-centric approach, with a case study of a district in Barcelona. The methodology integrates spatial and morphological data using a geographic information system (GIS)-based and clustering framework to address challenges of CO₂ emissions, air pollution, and energy inefficiency. Rooftop availability and photovoltaic (PV) design constraints are analysed under current urban regulations. The spatial analysis incorporates building geometry and solar exposure, while an evolutionary optimisation algorithm in Grasshopper refines shading analysis, energy yield, and financial performance. Clustering methods (K-means and 3D proximity) group PV panels by solar irradiance uniformity and spatial coherence to enhance system efficiency. Eight PV deployment scenarios are evaluated, incorporating submodule integrated converter technology under a solar power purchase agreement model. Results show distinct trade-offs among PV scenarios. The standard fixed tilted (31.5° tilt, south-facing) scenario offers a top environmental and performance ratio (PR) = 66.81% but limited financial returns. In contrast, large- and huge-sized modules offer peak financial returns, aligning with private-sector priorities but with moderate energy efficiency. Medium- and large-size scenarios provide balanced outcomes, while a small module and its optimised rotated version scenarios maximise energy output yet suffer from high capital costs. A hybrid strategy combining standard fixed tilted with medium and large modules balances environmental and economic goals. The district’s morphology supports “solar neighbourhoods” and demonstrates how multi-scenario evaluation can guide resilient PV planning in Mediterranean cities. Full article

Although carbon emissions trading systems are universally acknowledged as one of the most potent policy instruments for counteracting hazardous climate trends, and digitalization is seen as a favorable technological means to promote corporate green and low-carbon transformation, few studies have investigated the dark side of both. Using data on Chinese listed companies from 2011 to 2020 and adopting a multi-period DID methodology, this research reveals that, in response to the carbon emissions trading system, firms often adopt low-cost, strategic environmental governance behaviors—namely, carbon washing—to reduce compliance costs and maintain their reputation and image. Furthermore, the study reveals that the information advantages of digital transformation create conditions for the opportunistic manipulation of carbon disclosure. Digitalization amplifies the positive influence of the carbon trading system on corporate carbon washing behavior. Mechanism analysis confirms that the carbon emissions trading system increases the production costs of regulated firms, thereby increasing their carbon washing behavior. Economic consequence analysis confirms that firms engage in carbon washing to gain legitimacy and maintain their reputation and image, which may allow them to obtain opportunistic benefits in the capital market. Finally, this study suggests that the government should adopt supplementary policy tools, such as environmental subsidies, enhanced use of digital technologies to strengthen regulatory capacity, and increased media oversight, to mitigate the unintended consequences of the carbon trading system on corporate behavior. Full article

Societies are aiming to have a higher ecological consciousness in wastewater treatment operations and achieve a more sustainable future. With this said, global demands for larger quantities of resources and the consequent waste generated will inevitably lead to the exhaustion of current municipal wastewater treatment works. The utilization of biosolids (particularly microbial proteins) from wastewater treatment operations could generate a sustainable bio-adhesive for the wood industry, reduce carbon footprint, mitigate health concerns related to the use of carcinogenic components, and support a more circular economic option for wastewater treatment. A techno-economic analysis for three 10 MGD wastewater treatment operations producing roughly 11,300 dry pounds of biosolids per day, in conjunction with co-feedstock defatted soy flour protein at varying ratios (i.e., 0%, 15%, and 50% wet weight), was conducted. Aspen Capital Cost Estimator V12 was used to design and estimate installed equipment additions for wastewater treatment plant integration into an urban biorefinery process. Due to the mechanical attributes and market competition, the chosen selling prices of each adhesive per pound were set for analysis as USD 0.75 for Plant Option P1, USD 0.85 for Plant Option P2, and USD 1.00 for Plant Option P3. Over a 20-year life, each plant option demonstrated economic viability with high NPVs of USD 107.9M, USD 178.7M, and USD 502.2M and internal rates of return (IRRs) of 24.0%, 29.0%, and 44.2% respectively. The options examined have low production costs of USD 0.14 and USD 0.19 per pound, minimum selling prices of USD 0.42–USD 0.51 per pound, resulting in between 2- and 4-year payback periods. Sensitivity analysis shows the effects biosolid production fluctuations, raw material market price, and adhesive selling price have on economics. The results proved profitable even with large variations in the feedstock and raw material prices, requiring low market selling prices to reach the hurdle rate of examination. This technology is economically enticing, and the positive environmental impact of waste utilization encourages further development and analysis of the bio-adhesive process. Full article

As global climate change intensifies and the transition to clean energy accelerates, lithium-ion batteries—critical components of electric vehicles—are becoming increasingly vital in international trade networks. This study investigates the structural evolution and determinants of the electric vehicle lithium-ion battery trade network among European Union (EU) member states from 2012 to 2023, employing social network analysis and the multiple regression quadratic assignment procedure method. The findings demonstrate the transformation of the network from a centralized and loosely connected structure, with Germany as the dominant hub, to a more interconnected and decentralized system in which Poland and Hungary emerge as the leading players. Key network metrics, such as the density, clustering coefficients, and average path lengths, reveal increased regional trade connectivity and enhanced supply chain efficiency. The analysis identifies geographic and economic proximity, logistics performance, labor cost differentials, energy resource availability, and venture capital investment as significant drivers of trade flows, highlighting the interaction among spatial, economic, and infrastructural factors in shaping the network. Based on these findings, this study underscores the need for targeted policy measures to support Central and Eastern European countries, including investment in logistics infrastructure, technological innovation, and regional cooperation initiatives, to strengthen their integration into the supply chain and bolster their export capacity. Furthermore, fostering balanced inter-regional collaborations is essential in building a resilient trade network. Continued investment in transportation infrastructure and innovation is recommended to sustain the EU’s competitive advantage in the global electric vehicle lithium-ion battery supply chain. Full article

Direct Air Capture (DAC) is emerging as a critical climate change mitigation strategy, offering a pathway to actively remove atmospheric CO₂. This comprehensive review synthesizes advancements in DAC technologies, with a particular emphasis on the pivotal role of nanostructured solid sorbent materials. The work critically evaluates the characteristics, performance, and limitations of key nanomaterial classes, including metal–organic frameworks (MOFs), covalent organic frameworks (COFs), zeolites, amine-functionalized polymers, porous carbons, and layered double hydroxides (LDHs), alongside solid-supported ionic liquids, highlighting their varied CO₂ uptake capacities, regeneration energy requirements, and crucial water sensitivities. Beyond traditional temperature/pressure swing adsorption, the review delves into innovative DAC methodologies such as Moisture Swing Adsorption (MSA), Electro Swing Adsorption (ESA), Passive DAC, and CO₂-Binding Organic Liquids (CO₂ BOLs), detailing their unique mechanisms and potential for reduced energy footprints. Despite significant progress, the widespread deployment of DAC faces formidable challenges, notably high capital and operational costs (currently USD 300–USD 1000/tCO₂), substantial energy demands (1500–2400 kWh/tCO₂), water interference, scalability hurdles, and sorbent degradation. Furthermore, this review comprehensively examines the burgeoning global DAC market, its diverse applications, and the critical socio-economic barriers to adoption, particularly in developing countries. A comparative analysis of DAC within the broader carbon removal landscape (e.g., CCS, BECCS, afforestation) is also provided, alongside an address to the essential, often overlooked, environmental considerations for the sustainable production, regeneration, and disposal of spent nanomaterials, including insights from Life Cycle Assessments. The nuanced techno-economic landscape has been thoroughly summarized, highlighting that commercial viability is a multi-faceted challenge involving material performance, synthesis cost, regeneration energy, scalability, and long-term stability. It has been reiterated that no single ‘best’ material exists, but rather a portfolio of technologies will be necessary, with the ultimate success dependent on system-level integration and the availability of low-carbon energy. The review paper contributes to a holistic understanding of cutting-edge DAC technologies, bridging material science innovations with real-world implementation challenges and opportunities, thereby identifying critical knowledge gaps and pathways toward a net-zero carbon future. Full article

In this study, an empirical analysis was applied to measure the efficiency level of dairy farms in Cyprus and estimate the capacity of sheep farmers to support the increasing demand for halloumi cheese. Data Envelopment Analysis was used on data from 50 dairy sheep farms in Cyprus, which operate under extensive, semi-intensive, and intensive systems. The main features of the most efficient farms are presented, and a comparative financial analysis is implemented between the efficient and less efficient farms. The results indicate room for improvement in extensive and semi-intensive dairy sheep farming and verify that the transition that takes place in sheep farming towards more intensive systems constitutes the optimal approach. The most efficient farms operate under semi-intensive and intensive dairy sheep farming and achieve higher milk yields than the farms operating under extensive systems. Feeding constitutes the main cost driver, exceeding 60% in both efficient and inefficient farms, while labor wages and fixed capital cost varies between 25% and 30% of the total production cost for both efficiency groups. The findings indicate that the farms should utilize economies of scale to reduce production costs and utilize fixed capital endowments at full capacity. Full article

Hydrogen is increasingly recognized as a key element of the transition to a low-carbon energy system, leading to a growing interest in accurate and sustainable assessment of its economic viability. Levelized Cost of Hydrogen (LCOH) is one of the most widely used metrics for comparing hydrogen production technologies and informing investment decisions. However, traditional LCOH calculation methods apply a single discount rate to all cash flows without distinguishing between the risks associated with outflows and inflows. This approach may yield a systematic overestimation of costs, especially in capital-intensive projects. In this study, we adapt a binary cash flow discounting model, previously proposed in the finance literature, for hydrogen energy systems. The model employs two distinct discount rates, one for costs and one for revenues, with a rate structure based on the required return and the risk-free rate, thereby ensuring that arbitrage conditions are not present. Our approach allows the range of possible LCOH values to be determined, eliminating the methodological errors inherent in traditional formulas. A numerical analysis is performed to assess the impact of a change in the general rate of return on the final LCOH value. The method is tested on five typical hydrogen production technologies with fixed productivity and cost parameters. The results show that the traditional approach consistently overestimates costs, whereas the binary model provides a more balanced and risk-adjusted representation of costs, particularly for projects with high capital expenditures. These findings may be useful for investors, policymakers, and researchers developing tools to support and evaluate hydrogen energy projects. Full article

This study systematically compares the environmental and economic performance of three wastewater treatment systems: constructed wetlands (CWs), microbial fuel cells (MFCs), and their integration (CW–MFC). Lab-scale units of each system were constructed using a multi-media matrix (gravel, zeolite, and granular activated carbon), composite native wetland species (Juncus effusus, Iris sp., and Typha angustifolia), carbon-based electrodes (graphite), and standard inoculum for CW and CW–MFC. The MFC system employed carbon-based electrodes and proton-exchange membrane. The experimental design included a parallel operation of all systems treating domestic wastewater under identical hydraulic and organic loading rates. Environmental impacts were quantified across construction and operational phases using life cycle assessment (LCA) with GaBi software 9.2, employing TRACI 2021 and ReCiPe 2016 methods, while techno-economic analysis (TEA) evaluated capital and operational costs. The key results indicate that CW demonstrates the lowest global warming potential (142.26 kg CO₂-eq) due to its reliance on natural biological processes. The integrated CW–MFC system achieved enhanced pollutant removal (82.8%, 87.13%, 78.13%, and 90.3% for COD, NO₃, TN, and TP) and bioenergy generation of 2.68 kWh, balancing environmental benefits with superior treatment efficiency. In contrast, the stand-alone MFC shows higher environmental burdens, primarily due to energy-intensive material requirements and fabrication processes. TEA results highlight CW as the most cost-effective solution (USD 627/m³), with CW–MFC emerging as a competitive alternative when considering environmental benefits and operational efficiencies (USD 718/m³). This study highlights the potential of hybrid systems, such as CW–MFC, to advance sustainable wastewater treatment technologies by minimizing environmental impacts and enhancing resource recovery, supporting their broader adoption in future water management strategies. Future research should focus on optimizing materials and energy use to improve scalability and feasibility. Full article

Climate change risk has significant impacts on corporate financial activities. Using firm-level data from A-share listed companies in China from 2010 to 2022, we examine how climate risk affects corporate debt financing capacity. We find that climate change risk significantly weakens firms’ ability to raise debt, leading to lower leverage and higher financing costs. These results remain robust across various checks for endogeneity and alternative specifications. We also show that reducing corporate carbon emission intensity can mitigate the negative impact of climate risk on debt financing, suggesting that supply-side credit policies are more effective than demand-side capital structure choices. Furthermore, we identify three channels through which climate risk impairs debt capacity: reduced competitiveness, increased default risk, and diminished resilience. Our heterogeneity analysis reveals that these adverse effects are more pronounced for non-state-owned firms, firms with weaker internal controls, and companies in highly financialized regions, and during periods of heightened environmental uncertainty. We also apply textual analysis and machine learning to the measurement of climate change risks, partially mitigating the geographic biases and single-dimensional shortcomings inherent in macro-level indicators, thus enriching the quantitative research on climate change risks. These findings provide valuable insights for policymakers and financial institutions in promoting corporate green transition, guiding capital allocation, and supporting sustainable development. Full article