OptBio is a Julia package designed for modeling and optimizing the value of bioproducts. It employs stochastic optimization to account for uncertainties in product selling prices and variations in crop yields. The package determines the optimal investment, production capacity, and operation of industrial plants to maximize profit. Built on the JuMP modeling language, OptBio uses the HiGHS solver to address these optimization problems.
Developed by PSR, a global provider of consulting services, computational modeling, and energy innovation, this package is part of a research and development initiative funded by Tevisa, a thermoelectric generation company in Brazil, and is aligned with the Brazilian government's R&D program (PD-16269-0123/2023). The project also involved collaboration with the Brazilian federal university UNIFEI. Considering the potential of bioproducts for decarbonization, OptBio was specifically utilized to model the sugarcane production chain with a focus on biofuels. More informations about the project can be found in the video (in portuguese).