Developing Under Pressure - Mitigating Technology Risk in Accelerated Project Timelines

Abstract

The ongoing trend of reduced CO2 emission targets by both governments and corporate entities has brought with it a significant push for new processing routes of non-conventional feedstocks, use of new technologies, and the application of existing technologies in new ways. Two prominent examples are: (1) Recycling of waste materials such as EOL/scrap batteries or production of refined products from multiple intermediate products (MHP, matte, black mass, etc.) where market availability carries significant uncertainty; (2) Electrification of conventionally carbon-intensive processes, such as green steel technologies, which drives the application of conventional electric smelting technology to a new process. As for all new technologies and processes, there is a commercialization risk that can be mitigated through appropriate process development, testwork, piloting, and demonstration. However, the environmental and political urgency means that these risks must either be mitigated on an accelerated timescale or, to a degree, accepted. This results in unprecedented challenges in engineering project development. This paper examines the growing challenge of advancing technology readiness and engineering projects in parallel and how a Technology Readiness Assessment (TRA) framework can be used to develop a suite of mitigations, including testwork and equipment design, and to set project expectations that enable the best chance of success.