Proposal and surrogate-based cost-optimal design of an innovative green ammonia and electricity co-production system via liquid air energy storage

•Proposal of an ammonia and electricity co-production system via liquid air energy storage.•Systems design and thermal integration lead to the highest energy efficiency of 83%.•Formulation of system scheduling model to study the impacts of storage sizing and power allocation.•ANN-surrogate-based optimization to establish an economically optimal design.•Cost of green ammonia from the co-production system can be lowered to ∼360 €/tonne.