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Techno-economic Modeling and Why it Matters for Invention with Jesse Lou
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In our latest episode of the Climate Biotech Podcast, we explore where science meets business with Jesse Lou, the CEO of Conductor Labs.
Jesse shares his unique insights into the indispensable role of Techno-Economic Analysis (TEA) in guiding the commercialization of climate technologies. We then explore a particular use case — biomining — with Jayme Feyhl-Buska of Homeworld Collective.
As innovators in biotech, it's paramount to understand that while groundbreaking ideas hold great promise, success hinges on solid economic foundations. Failure to integrate economic considerations early in the innovation process often leads to avoidable pitfalls. By adopting a proactive approach to TEAs, scientists can identify crucial economic factors, optimize resource allocation, and pivot when necessary, thus bridging the gap between technical advancement and market reality.
In this episode, we discuss how TEAs not only function as internal decision-making tools but also as compelling narratives used to engage investors and the wider community. A well-structured TEA can convincingly present a technology's real-world value, portraying its scientific merit and expected economic returns.
Join us for this enlightening discussion to understand how embedding economic thinking into scientific endeavors is not just advisable but essential for driving impactful climate solutions.
(00:00) Introduction to Climate Biotech Podcast
(00:48) Guest Introduction: Jesse Lou
(02:10) Jesse's Early Life and Education
(03:31) Career Journey: From Engineering to Climate Biotech
(04:48) The Importance of Techno-Economic Analysis (TEA)
(10:45) Challenges and Misconceptions in TEA
(18:34) Current Work and Future Directions
(23:35) Introducing Jayme Feyhl-Buska
(24:08) Introduction to Mining and Bioleaching
(24:30) Challenges in Mining Technology Adoption
(25:06) Learning and Implementing TEAs
(25:58) Importance of Process Flows and Communication
(27:37) Insights from Mining Conferences
(28:59) The Role of TEAs in Decision Making
(30:51) Focus on Copper Bioleaching
(32:03) Challenges in Copper Heap Leaching
(34:32) Modeling and Parameterizing TEAs
(37:06) Communicating Error and Risk in TEAs
(42:04) Rapid Fire Questions with Jesse
(45:33) Conclusion and Final Thoughts
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