Abstract
Equations are developed that may be used to estimate the energetic efficiency of biomass production and product formation when organic substrate consumption is used for growth, maintenance, and product formation. Regularities are utilized to develop balance equations with which the energetic efficiencies of biomass production and product formation may be estimated using several different sets of measured variables. The theory is illustrated by considering the growth in continuous culture of Aspergillus nidulans, which produces melanin.

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