Rising global CO2 levels underscore the urgent need for effective carbon capture and utilization (CCU) technologies to support a circular carbon economy. This study evaluates the techno-economic per- formance of a novel integrated CCU system that combines a K2CO3-based capture column with a bicarbonate electrolyser for syngas production, specifically targeting applications in the steel industry. An ASPEN PLUS model of the capture column was developed and integrated with a pH-dependent Faradaic Efficiency (FE) model of the electrolyser in Excel. Five cases were defined: (I) 90 wt% CO2 capture, (II) syngas production with a 2:1 H2/CO ratio for the Fischer-Tropsch process, (III) electrolyser operation with FECO > 50%, (IV) syngas composition suited as feedstock for electric arc furnaces (EAF) in the Energiron III process, and (V) an intermediate pH step. A techno-economic analysis (TEA) was conducted across worst, base, and best-case scenarios for each case.  Key findings reveal a trade-off between achieving high FECO at low pH levels and maximizing CO2 capture efficiency at high pH levels. Systems operating with large pH steps demonstrated a lower Lev- elized Cost of Syngas normalized to the Lower Heating Value (LCOSLHV ), due to increased hydrogen output. In contrast, systems with smaller and narrower pH steps incurred higher LCOSLHV due to their output’s lower LHV. The techno-economic analysis (TEA) indicates that the operational expenditure (OPEX) for the integrated CCU system is currently too high to be cost-competitive with alternative solu- tions. Sensitivity analysis reveals that the integrated CCU system is competitive with other electrolysis methods only under best-case conditions. Electricity costs and a low CO2 utilization ratio are identified as the primary drivers of OPEX. Improvements in these areas result in the most significant reduction in LCOSLHV, making them critical enablers for the integrated CCU system. Additionally, the cost per kilogram of CO2 saved is high compared to EU CO2 Emission Trading System (ETS) prices.  Current bicarbonate electrolysers are more costly than gas-fed CO2RR systems in terms of Unit Capital Cost (UCC) per kilogram of CO produced, largely due to reduced performance at higher current den- sities (>100 mA/cm2). Achieving CAPEX parity with gas-fed CO2RR systems would require increasing current densities while maintaining high FECO and sustaining these efficiencies at alkaline pH levels.  Future work should prioritize reducing both OPEX and CAPEX for the system, with a particular focus on improving the technical performance of the bicarbonate electrolyser. Key objectives include increasing current density while maintaining high FECO at alkaline pH levels, improving the CO2 utilization ratio, and enhancing the stability of the electrolyser.  Keywords: Carbon Capture and Utilization, Bicarbonate Electrolysis, K2CO3-based CO2 Capture, Ben- field Process, Integrated CCU System, Techno-economic Analysis ... Read more