A micro-CHP system, rated at 5 kWel, based on membrane reactor and PEM fuel cells is simulated in the present work. Bio-ethanol is used as feedstock and converted into hydrogen inside the innovative fuel processor: a membrane-assisted fluidized-bed auto-thermal reforming reactor. The pure hydrogen separated by the Pd-based membranes inside the reactor is fed to a low-temperature PEM fuel cells stack. Heat is recovered to produce low temperature water. Two different reactor configurations are investigated: the first one adopts a sweep-gas stream, the second one a vacuum pump. Parametric analysis is performed for both cases evaluating the impact of feed composition (water-to-ethanol ratio) and operative conditions of the membrane reactor (tem...