In this paper an alternative to the so-called “oxy-fuel” combustion for $CO2$ capture is evaluated. “Chemical looping combustion” (CLC), is closely related to oxy-fuel combustion as the chemically bound oxygen reacts in a stoichiometric ratio with the fuel. In the CLC process the overall combustion reaction takes place in two reaction steps in two separate reactors. In the reduction reactor, the fuel is oxidized by the oxygen carrier, i.e., the metal oxide MeO. The metal oxide is reduced to a metal oxide with a lower oxidation number, Me, in the reaction with the fuel. In this manner, pure oxygen is supplied to the reaction with the fuel without using a traditional air separation plant, like cryogenic distillation of air. The paper presents a thermodynamic cycle analysis, where CLC is applied in a humid air turbine concept. Main parameters are identified, and these are varied to examine the influence on cycle efficiency. Results on cycle efficiency are presented and compared to other $CO2$ capture options. Further, an evaluation of the oxygen carrier, metals/oxides, is presented. An exergy analysis is carried out in order to understand where losses occur, and to explain the difference between CLC and conventional combustion. The oxidation reactor air inlet temperature and the oxidation reactor exhaust temperature have a significant impact on the overall efficiency. This can be attributed to the controlling effect of these parameters on the required airflow rate. An optimum efficiency of 55.9% has been found for a given set of input parameters. Crucial issues of oxygen carrier durability, chemical performance, and mechanical properties have been idealized, and further research on the feasibility of CLC is needed. Whether or not the assumption 100% gas conversion holds, is a crucial issue and remains to be determined experimentally. Successful long-term operation of chemical looping systems of this particular type has not yet been demonstrated. The simulation points out a very promising potential of CLC as a power/heat generating method with inherent capture of $CO2.$ Exergy analysis show reduced irreversibilities for CLC compared to conventional combustion. Simulations of this type will prove useful in designing CLC systems in the future when promizing oxygen carriers have been investigated in more detail .

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