축산분뇨 반탄화 고형연료 생산시스템의 경제적 타당성 분석

This Study is to analyze the economic feasibility of livestock manure solid fuel business utilizing a production system with the convergence of odor/moisture reduction technology and torrefaction technology. Through the simulation analysis on 20-year operations the economic feasibility of business has been analyzed in terms of NPV and ROI. Specifications for odor/moisture reduction technology and torrefaction technology are taken from the technical information provided by Mightywater Co. Ltd. and Institute for Advanced Engineering, respectively. The results show that production capacity is found to be the most important factor affecting the economic feasi- bility of the business. In terms of managerial viewpoint, the objective of this study is two-fold. First. it introduces a methodology for economic feasibility analysis congruent with real business environment by calculating ROI and NPV based on after-tax cash flows. Second, it provides managers with a methodology supporting strategic decision making regarding optimal design and operations of production system for torrefied livestock manure solid fuel. The practical purpose of this study is to provide top managers with a realistic alternative resolving the problem of excess livestock manure fundamentally by introducing a convergent production system for torrefied solid fuel which eliminate odor and reduce moisture of manure with high level of economic feasibility.