The complexity of lignocellulosic biomass valorisation was identified, and a novel assessment method is proposed to facilitate the decision-making process.

Every decision-oriented life cycle assessment (LCAs) entails, at least to some extent, a future-oriented feature. However, apart from the ex-ante LCAs, the majority of LCA studies are retrospective in nature and do not explicitly account for possible future effects. In this review a generic theoretical framework is proposed as a guideline for ex-ante LCA. This framework includes the entire technology life cycle, from the early design phase up to continuous improvements of mature technologies, including their market penetration. The compatibility with commonly applied system models yields an additional aspect of the framework. Practical methods and procedures are categorised, based on how they incorporate future-oriented features in LCA. The results indicate that most of the ex-ante LCAs focus on emerging technologies that have already gone through some research cycles within narrowly defined system boundaries. There is a lack of attention given to technologies that are at a very early development stage, when all options are still open and can be explored at a low cost. It is also acknowledged that technological learning impacts the financial and environmental performance of mature production systems. Once technologies are entering the market, shifts in market composition can lead to substantial changes in environmental performance.

Technologies for upgrading fast pyrolysis bio‐oil to drop‐in fuels and coproducts are under development and show promise for decarbonizing energy supply for transportation and chemicals markets. The successful commercialization of these fuels and the technologies deployed to produce them depend on production costs, scalability, and yield. To meet environmental regulations, pyrolysis‐based biofuels need to adhere to life cycle greenhouse gas intensity standards relative to their petroleum‐based counterparts. We review literature on fast pyrolysis bio‐oil upgrading and explore key metrics that influence their commercial viability through life cycle assessment (LCA) and techno‐economic analysis (TEA) methods together with technology readiness level (TRL) evaluation. We investigate the trade‐offs among economic, environmental, and technological metrics derived from these methods for individual technologies as a means of understanding their nearness to commercialization. Although the technologies reviewed have not attained commercial investment, some have been pilot tested. Predicting the projected performance at scale‐up through models can, with industrial experience, guide decision‐making to competitively meet energy policy goals. LCA and TEA methods that ensure consistent and reproducible models at a given TRL are needed to compare alternative technologies. This study highlights the importance of integrated analysis of multiple economic, environmental, and technological metrics for understanding performance prospects and barriers among early stage technologies.