Following the process recommended in Peters et al. [26], fixed costs including pip­ing, electrical systems and contractor’s fees were each estimated as a proportion of the total major equipment costs, using the factors adopted in the cost estimation of a similar algae production facility by Molina Grima et al. [21]. This approach in estimating fixed costs as a proportion of the total major equipment costs is consid­ered to typically yield results with accuracy within a ±10%. One major exception to this method was the estimation of land costs, which was examined in the cultivation stage of production. The system is assumed to be co-located with a power genera­tion station. This location is selected to ensure adequate supply of free carbon diox­ide, readily available in the form of flue gas. Taking this into consideration, the land cost of each system was modelled based on the cost of two large agricultural proper­ties situated in the area; a 32 ha property in Moe South and a 36 ha property in Tyers (REA Group, 2009) in Australia. Based on the total reactor volume required and the area required for each reactor type (Table 1), the overall land requirement and cost for each system was estimated. The FCI was obtained by summing all fixed capital costs and the total major equipment costs.