17 Jun The levulinic acid product tree: a versatile opportunity in the bio-based economy
Quirinus Rinus B. Broxterman, Michele C.C. Janssen, Marinus Marijn P.W.M. Rijkers
“The levulinic acid product tree: a versatile opportunity in the bio-based economy.
What does it take to establish such transition?
Renewable feedstock offers magnificent business development opportunities in chemicals and materials. We describe the emerging Levulinic Acid (LA) product tree, with woody biomass as a raw material. First products from LA will find tens of million Euro markets, and further downstream products a billion Euro market. The value creation outperforms most other bio-refineries, thanks to high carbon and energy efficiency. Cost prices, excluding carbon tax and subsidies, appear at par with fossil derived equivalents at an oil price of 30 $/brl. All this requires development time, capital and assets. Open innovation offers an excellent environment to make this happen, with partners representing entire value chains, technology experts, NGO’s and governments. With this constellation and full throttle, the first LA-products could be on the market by 2022, heading towards a full-grown LA-market by 2030.
Chimica Oggi – Chemistry Today – vol. 35(4) July/August 2017