The V-factor: Towards a New Metric for Gauging the Efficiency and Profitability of Manufacturing Processes for the Bioeconomy

Abstract

Several metrics have been formulated to evaluate the environmental impact of chemical manufacturing processes. However, there are no formulas for simplified, back-of-the envelope estimation of their efficiency of resource utilisation and profitability, which are hugely influential when it comes to determining investments and, for academic users, justifying research into new conversion technologies. Herein, we posit a new metric called the valorization (V)-factor to estimate these parameters for manufacturing processes that utilize biomass. Additionally, we also argue that co-assessment of the established environmental (E)-factor, related to waste production in a process, and V-factor will greatly facilitate the development of environmentally and economically sustainable processes for valorization of biomass.