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Techno-economic analysis for large-scale Spirulina cultivation. Equipment sizing, capital and operating costs, and financial metrics (MBSP, NPV, IRR).
| Parameter | Value |
|---|---|
| Total CAPEX | $37.07M |
| Annual OPEX | $8.69M |
| Annual Revenue | $16.45M |
| Annual Profit | $7.77M |
| Parameter | Value |
|---|---|
| MBSP | $16,626/ton |
| Sale Price | $20,000/ton |
| IRR | 15.6% |
| Simple Payback | 6.6 yrs |
| Capital Intensity | $45,070/ton/yr |
| Section | CAPEX | OPEX | Total | % |
|---|---|---|---|---|
| Inputs | $555 | $3,994 | $4,549 | 27.4% |
| Inoculum | $17 | $604 | $622 | 3.7% |
| Biomass | $219 | $1,936 | $2,156 | 13.0% |
| Harvesting | $570 | $1,956 | $2,526 | 15.2% |
| Drying | $134 | $1,569 | $1,702 | 10.2% |
| Land | $7 | $200 | $207 | 1.2% |
| Overhead | — | $300 | $300 | 1.8% |
| Taxes & Finance | — | — | $4,565 | 27.5% |
| MBSP | $1,502 | $10,560 | $16,626 | 100% |
| Section | Capital Costs | Operating Costs ($/yr) | ||||||
|---|---|---|---|---|---|---|---|---|
| Equipment | Install & Engr | CAPEX | Materials | Energy | Maint. | Labor | OPEX | |
| Inputs | $3,682,376 | $10,012,897 | $13,695,273 | $2,268,463 | $385,817 | $156,532 | $474,500 | $3,285,312 |
| Inoculum | $421,771 | $0 | $421,771 | $0 | $1,597 | $21,089 | $474,500 | $497,186 |
| Biomass | $5,411,028 | $0 | $5,411,028 | $0 | $190,742 | $270,551 | $1,131,500 | $1,592,794 |
| Harvesting | $3,784,268 | $10,289,957 | $14,074,225 | $0 | $348,385 | $128,747 | $1,131,500 | $1,608,632 |
| Drying | $746,343 | $2,549,398 | $3,295,742 | $0 | $765,329 | $50,604 | $474,500 | $1,290,433 |
| Land | $174,580 | $0 | $174,580 | $0 | $0 | $8,729 | $156,000 | $164,729 |
| Total | $14,220,366 | $22,852,252 | $37,072,618 | $2,268,463 | $1,691,871 | $636,252 | $3,842,500 | $8,439,085 |
| Sale Price ($/ton) | Revenue | Gross Profit | Gross Margin | Net Profit | Net Margin | NPV |
|---|---|---|---|---|---|---|
| $10,000 | $8,225,623 | -$460,231 | -2.6% | -$2,301,218 | -28.0% | -$42,978,570 |
| $15,000 | $12,338,435 | $3,652,581 | 31.6% | $1,192,420 | 9.7% | -$8,828,479 |
| $20,000MBSP | $16,451,247 | $7,765,393 | 48.7% | $4,000,296 | 24.3% | $18,316,743 |
| $25,000 | $20,564,059 | $11,878,204 | 59.0% | $6,808,171 | 33.1% | $45,461,964 |
| $30,000 | $24,676,870 | $15,991,016 | 65.8% | $9,616,046 | 39.0% | $72,607,186 |
| $40,000 | $32,902,494 | $24,216,640 | 74.4% | $15,231,797 | 46.3% | $126,897,629 |
| $50,000 | $41,128,117 | $32,442,263 | 79.5% | $20,847,548 | 50.7% | $181,188,072 |
| $75,000 | $61,692,176 | $53,006,322 | 86.3% | $34,886,924 | 56.5% | $316,914,179 |
| $100,000 | $82,256,234 | $73,570,380 | 89.7% | $48,926,301 | 59.5% | $452,640,287 |
Row highlighted is the first sale price above MBSP ($16,626/ton) — the breakeven selling price.
| Parameter | Value | Notes |
|---|---|---|
| Active Days | 330 days/yr | Operating days per year |
| Pond Size | 1 acres | Individual pond area |
| Pond Depth | 0.2 m | Culture depth |
| L:W Ratio | 10 | Length-to-width ratio |
| Column Spacing | 2.6 m | Between pond columns |
| Row Spacing | 1.85 m | Between pond rows |
| Unit Lifetime | 30 yrs | Facility operating lifetime |
| Parameter | Value | Notes |
|---|---|---|
| Electricity | $0.4024/kWh | Commercial rate estimate |
| Natural Gas | $0.03367/cuft | Industrial rate estimate |
| Diesel | $1.60/L | May 2022 |
| CO₂ | $375/ton | DAC-sourced estimate |
| KNO₃ | $600/ton | Volatile commodity |
| DAP | $600/ton | Volatile commodity |
| Micronutrients | $600/ton | Estimate |
| Water | $0.1329/m³ | Municipal supply |
| Labor Rate | $36.50/hr | ~$70k/yr equivalent |
| Parameter | Value | Notes |
|---|---|---|
| Carbon Fraction | 54.0% | CO₂ source |
| Nitrogen Fraction | 1.8% | KNO₃ source |
| Phosphorus Fraction | 0.22% | DAP source |
| Micronutrient Fraction | 0.0269% | Derived estimate |
| Parameter | Value | Notes |
|---|---|---|
| Federal Tax Rate | 25% | US federal corporate rate |
| State Tax Rate | 6.4% | State income tax rate |
| Discount Rate | 10% | For NPV/DCF |
| Depreciation | MACRS-15 | 15-year MACRS for infrastructure |
| Working Capital | 5% | Fraction of CAPEX |
| Salvage Value | 0% | End-of-life fraction |
| Parameter | Value | Notes |
|---|---|---|
| Overhead | $300/ton | Quality + regulatory + marketing + sales |
| Parameter | Value | Notes |
|---|---|---|
| Evaporation Rate | 10 mm/day | Location-dependent |
| Harvest Efficiency | 70% | Primary dewatering |
| Harvest Hours | 6 hrs/day | Daily harvest window |
| Dryer Inlet Water | 75% | Post-harvest slurry |
| Dryer Outlet Water | 5% | Final dry product |
| Dryer Efficiency | 25% | Spray dryer thermal |
| Dryer Operating Factor | 1.06 | Overhead factor |
| Silo Buffer | 14 days | Finished product storage |
| Filter 3 Efficiency | 70% | Shaker screen dewatering |
| Parameter | Value | Notes |
|---|---|---|
| CO₂ Uptake | 30% | Open pond ~30%, PBR ~80-95% |
| N Uptake | 100% | Nitrogen absorption |
| P Uptake | 100% | Phosphorus absorption |
| Parameter | Value | Notes |
|---|---|---|
| Pump Efficiency | 70% | Mechanical |
| Drivetrain Efficiency | 95% | Transmission |
| Motor Efficiency | 35% | Diesel thermal |
| Parameter | Value | Notes |
|---|---|---|
| Passive | 3% | Tanks, hoppers, storage |
| Mechanical | 5% | Pumps, mixers |
| Membrane | 7% | UF/MF filters |
| Parameter | Value | Notes |
|---|---|---|
| Raw Water Tank | 3 days | Raw water storage |
| Filtered Water Tank | 2 days | Filtered water buffer |
| CO₂ Tank | 30 days | Liquid CO₂ storage |
| Nutrient Hoppers | 30 days | Dry storage |
| Filtrate Tank | 1 days | Harvesting filtrate |
| Parameter | Value | Notes |
|---|---|---|
| Max Ponds/Batch | 10 | Per construction batch |
| Build Time | 1 wk | Per pond |
| Batch Test Time | 4 wks | Test run after build |
| Parameter | Value | Notes |
|---|---|---|
| Land Price | $3,010/acre | Selected location |
| Land Buffer | 20% | Extra beyond pond footprint |
| Parameter | Value | Notes |
|---|---|---|
| Target Duration | 6 months | Time to inoculate all ponds |
| Pond As | 10.0% × 7d | Size fraction × cycle |
| Pond Bs | 1.0% × 7d | Size fraction × cycle |
| Pond Cs | 0.1% × 7d | Size fraction × cycle |
Click a cell in the Sections Overview table to view its detailed breakdown here.