| Application of Real Options Analysis in the Valuation of Investment in Biodiesel Production |
MAY 2011 |
7 pages |
| Authors:
Frank E. Yeboah; Abolghasem Shahbazi; Osei A. Yeboah; Harmohindar Singh; Franklin H. Holcomb; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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 | There are basically two main methods used in the valuation of capital investments; the discounted cash flow (DCF) techniques, and the option pricing valuation (OPV) method. The DCF techniques and other net present value (NPV) methods when used to value investment projects that have flexibility in them tend to underestimate the values of the projects, because they fail to capture the value of the flexibility embedded in such projects. For ... |
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| Molten Carbonate Fuel Cell Operation With Dual Fuel Flexibility |
OCT 2007 |
36 pages |
| Authors:
JOSEPH DALY; George Steinfeld; David K. Moyer; Franklin H. Holcomb; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| The ability to operate highly-efiicient, pollution-free, distributed-generation power plants on either natural gas or HD-5 grade propane is of interest to the U.S. Army and the U.S. Department of Homeland Security as secure power for critical power operations. To address this interest, Concurrent Technologies Corporation (CTC) teamed with FuelCell Energy (FCE) to test an internally reforming 250 kW carbonate direct fuel cell using HD-5 propane. This fuel cell power plant, ... |
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| Direct Carbon Fuel Cells: Converting Waste to Electricity |
SEP 2007 |
54 pages |
| Authors:
Ronald H. Wolk; Scott Lux; Stacy Gelber; Franklin H. Holcomb; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| The U.S. Army has policies to minimize production of waste materials, maximize recycle of waste materials, and minimize energy consumption on its installations. A beneficial way to implement these policies is to convert paper, wood, vegetation, and Municipal Solid Waste (MSW) fractions into a carbon-rich feed stock by pyrolysis to fuel Direct Carbon Fuel Cells (DCFCs). DCFCs potentially offer a unique approach for the direct conversion of biomass-derived, carbon-rich solid ... |
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| Ramgen Power Systems for Military Engine Applications |
MAY 2007 |
84 pages |
| Authors:
Franklin H. Holcomb; Chang W. Sohn; Gunnar Tamm; Daniel Brown; Daniel Mahoney; Peter Baldwin; Karen Belshaw; Aaron Koopman; Dennis Witmer; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| Ramgen Power Systems, Inc. (RPS) is developing two high efficiency gas turbine engine concepts that combine many of the proven features of supersonic compression and expansion systems, commonly used in supersonic flight inlet and nozzle designs, with conventional axial flow turbo-machinery practices to create two entirely new gas turbine engines. The superior efficiency is a result of high pressure shock wave compression and supersonic expansion phenomena to produce high component ... |
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| Ramgen Power Systems-Supersonic Component Technology for Military Engine Applications |
NOV 2006 |
9 pages |
| Authors:
Chang W. Sohn; Franklin H. Holcomb; Peter Baldwin; Shawn Lawlor; Robert C. Steele; Karen Belshaw; Gunnar Tamm; RAMGEN POWER SYSTEMS INC BELLEVUE WA
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| Ramgen Power Systems, Inc. (RPS) is currently developing two high efficiency gas turbine engine concepts to create two entirely new gas turbine engines. The superior efficiency results from: (1) high pressure shock wave compression and supersonic expansion phenomena that produce high component efficiencies and (2) a unique configuration that minimizes flow stream turning losses throughout the engine. The RPS engine concept can be configured as a high-pressure ratio simple-cycle design ... |
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| Canola Oil Fuel Cell Demonstration: Volume 3 - Technical, Commercialization, and Application Issues Associated with Harvested Biomass |
17 AUG 2006 |
88 pages |
| Authors:
John Adams; Craig Cassarino; Joel Lindstrom; Linda Eslin; Scott M. Lux; Franklin H. Holcomb; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| This study evaluated the use of Montana-based oilseed crops (canola oil) for power generation in defense and civilian fuel cell applications. Three major fuel production operations were considered: (1) recovery of oil from the harvested vegetable crop, (2) conversion of the vegetable oil into its biodiesel corollary, and (3) reforming the biodiesel into a synthesis gas. The study explored areas for potential improvements in the cost or technical performance in ... |
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| Detailed Fuel Cell Demonstration Site Summary Report: Edwards Air Force Base, CA |
AUG 2006 |
134 pages |
| Authors:
J. M. Torrey; John F. Westerman; William R. Taylor; Franklin H. Holcomb; Joseph Bush; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| Fuel cells are an environmentally clean, quiet, and a highly efficient method for generating electricity and heat from natural gas and other fuels. In fiscal year 1993 (FY93), the Engineer Research and Development Center, Construction Engineering Research Laboratory (ERDC-CERL) was assigned the mission of managing the DOD Fuel Cell Demonstration Program. Specific tasks included developing turnkey PAFC packages, devising site criteria, screening candidate DOD installation sites based on selection criteria, ... |
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| Canola Oil Fuel Cell Demonstration: Volume 2 - Market Availability of Agricultural Crops for Fuel Cell Applications |
JUN 2006 |
21 pages |
| Authors:
John W. Adams; Craig Cassarino; Lee Spangler; Duane Johnson; Joel Lindstrom; Michael J. Binder; Franklin H. Holcomb; Scott M. Lux; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| Fuel cells are electrochemical devices that convert chemical energy to electrical energy with very high efficiency, and with very low levels of environmental emissions. The reformation of vegetable oil crops for fuel cell uses is not well known; yet vegetable oils such as canola oil represent a viable alternative and complement to traditional fuel cell feedstocks. This report summarizes a study conducted to identify various Montana oil crops available for ... |
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| Detailed Fuel Cell Demonstration Site Summary Report: Naval Hospital at Marine Corps Air Ground Combat Center - Twentynine Palms |
JUN 2006 |
149 pages |
| Authors:
J. M. Torrey; John F. Westerman; William R. Taylor; Franklin H. Holcomb; Joseph Bush; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| Fuel cells are an environmentally clean, quiet, and a highly efficient method for generating electricity and heat from natural gas and other fuels. In fiscal year 1993 (FY93), the Engineer Research and Development Center, Construction Engineering Research Laboratory (ERDC-CERL) was assigned the mission of managing the DOD Fuel Cell Demonstration Program. Specific tasks included developing turnkey PAFC packages, devising site criteria, screening candidate DOD installation sites based on selection criteria, ... |
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| Waste-to-Energy ECIP (Energy Conservation Investment Program) Project. Volume 1: An Analysis of Hydrogen Infrastructure Fuel Cell Technology |
APR 2006 |
36 pages |
| Authors:
Franklin H. Holcomb; Roch A. Ducey; Byung J. Kim; Gonzalo Perez; Robert Neathammer; Fred Louis; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| Volume I of this work represents a preliminary analysis of the economics from an anaerobic sludge digester Wastewater Treatment Plant (WWTP) at a military installation integrated with a fuel cell with hydrogen production capabilities. The waste-to-energy, hydrogen production/infrastructure development, fuel cell system (WTE-H2-FC) was submitted for FY06 Energy Conservation Investment Program (ECIP) funding based on the estimated Savings to Investment Ratio (SIR) range of 1.5 - 2, and an estimated ... |
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| Lanthanum Cerium Manganese Hexaaluminate Combustion Catalysts for Compact Steam Reformers |
07 DEC 2005 |
22 pages |
| Authors:
Fred S. Thomas; Aly H. Shaaban; Allyson Schutzenhoffer; Franklin H. Holcomb; Reza Salavani; APPLIED RESEARCH ASSOCIATES INC TYNDALL AFB FL
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| Several substituted hexa-aluminates were synthesized via a surfactant-mediated process and tested for their catalytic propane combustion activity. After calcination at 1100 degrees C, catalyst surface areas were as high as 78 m2/g. The best catalysts contained lanthanum, cerium, and manganese, with La(0.6) Ce(0.4) MnAl(11) O(19) representing the optimum. A parallel plate catalytic combustion reactor with a catalyst supported on Fecralloy foam burned propane and JP-8 jet fuel with a low ... |
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| Military Requirements for JP-8 Reformers and Solid Oxide Fuel Cell Power Systems |
DEC 2005 |
59 pages |
| Authors:
Jeffrey D. Stangl; Robert O. Wertz; Franklin H. Holcomb; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| This work represents an early step in the military Solid Oxide Fuel Cell (SOFC) development process. This study identifies: the military's current and future electric power needs and capabilities; the requirements for building a military SOFC power system with design recommendations; and initial approach to a Modularization Plan for developing military SOFC technology. The goals of this Modularization Plan will be to minimize procurement, training, and maintenance costs. Existing generators ... |
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| DOD Residential Proton Exchange Membrane (PEM) Fuel Cell Demonstration Program. Volume 2. Summary of Fiscal Year 2001-2003 Projects |
SEP 2005 |
97 pages |
| Authors:
Melissa K. White; Scott M. Lux; James L. Knight; Michael J. Binder; Franklin H. Holcomb; Nicolas M. Josefik; ENGINEER RESEARCH AND DEVELOPMENT CENTER CHAMPAIGN IL CONSTRUCTION ENGINEERING RESEARCH LAB
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| In Fiscal Year 2001 (FY01), Congress funded the Department of Defense (DoD) residential PEM Demonstration Project to demonstrate domestically-produced, residential Proton Exchange Membrane (PEM) fuel cells at DoD Facilities. The objectives were to: assess PEM fuel cells' role in supporting sustainability at military installations; increase efficiency in installation, operation, and maintenance of fuel cell sites; evaluate their potential in DoD training, readiness, and sustainability missions; provide a military base market ... |
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