Karunakaran says technology will catapult India’s progress towards net-zero emission
By making biofuel accessible and connecting raw materials aggregators, manufacturers, consumers and waste materials in an all-in-one app, Coimbatore’s Buyofuel is empowering the biofuel industry with its online green fuel marketplace which is position to tap US$47 billion blended fuels and US$21 billion for wastes prospects.
“In order to achieve a pollution-free environment and a sustainable future through clean energy, industries require support in smooth and successful transition from fossil fuels to biofuels,” Buyofuel CEO Kishan Karunakaran said on 13 April 2022.
“An accessible online marketplace backed by technology will not just accelerate the transition but will also catapult India’s progress towards net-zero emission.
“Also, a fast switch to biofuel consumption by making it more accessible can strengthen India’s commitment towards the Sustainable Development Goals of the United Nations of providing affordable, reliable, sustainable, and clean energy to all,” he said.
Taking a leap towards a sustainable future, the company is envisioning to create a platform for trading of biofuel-based commodities in a quick, accessible and secured manner with verified buyers and sellers.
With the purpose of ensuring accessibility to biofuels as well as enabling a circular economy and emission-free environment, Buyofuel is successfully bringing sustainability into effect.
Based on the Government’s target to substitute just 20% of India’s fuel consumption with biofuels, the biofuels market in India is estimated at US$47 billion and the wastes for fuel is at US$21 billion.
Buyofuel has India’s largest buyer base of biofuels and wastes with a buying capacity of about 600,000 MT/month and has the highest seller base of biofuels and wastes with a selling capacity of more than 200,000 MT/month in the country.
Earlier, there was no access for trade in biofuels and wastes and hence kept buying from the same few sellers at higher than market prices where in there was no transparency of pricing, quality or transaction.
The Biofuel sector was very unorganized, which kept most of the buyers and sellers in darkness, said Buyofuel which has enabled the buyers to discover more sellers and vice-versa easily.
The Buyers and sellers get quality assured biofuels with complete transparency in the transactions right from sending enquiry to placing order to execution of order to doorstep delivery of the biofuel.
The company is enabling a decentralized biofuel industrial connectivity and making biofuel more affordable and accessible for the businesses. By developing an efficient online marketplace for all biofuel-based commodities on a single platform with verified buyers and sellers, it is removing the existing barriers.
Furthermore, it is also building connections in the green fuel community with the power of technology. Also, the companies and industries hesitating to choose biofuels as a source of energy will now get connected to a market of consumers, making their business run smoothly and successfully.
The online platform is also bringing all important role players under the same roof and ensuring transparency, quality, and consistency with credit assistance in a seamless purchase experience. It is working to encourage the consumption of biofuels not only for environmental considerations but also for the thousands of people who contribute to India’s agrarian economy.
Buyofuel is a company enabling a decentralized biofuel industrial connectivity and making biofuel more affordable and accessible for the businesses. fiinews.com
