Kishan Karunakaran established a biodiesel manufacturing unit in 2008, much before biofuels became popular.
Biofuels provide a sustainable energy system that is renewable, environmentally-friendly and capable of utilising indigenous raw materials.
He started streamlining the aggregation of wastes and developing a biofuel ecosystem using technology, as nothing was available, and wastes were adulterated.
“Aggregating feedstocks (any biomass destined for conversion to energy or biofuel) for manufacturers was a significant barrier, and my own experience as a biofuel producer inspired me to launch Buyofuel as a tech-enabled platform,” he recalls.
In May 2020, he established Buyofuel, an online one-stop shop for buyers and sellers of biofuels.
Their ecosystem has a network of raw material aggregators, manufacturers, consumers, and waste generators.
Coimbatore-based Kishan was inspired by former President A P J Abdul Kalam to get into biofuels.
In 2011, Kalam claimed, “In a decade’s time, it may be possible that all the vehicles on the road will be run on 100% biofuel.”
While his vision has not come true, the biofuel industry has grown. According to Statista, India’s biodiesel production grew from around 132 million litres in 2013 to 185 million in 2022.
Through Buyofuel, Kishan hopes to create an ecosystem where every stakeholder can build connections within the biofuel community.
The venture claims to facilitate the sale of more than 10,000 metric tons of biofuel every month on its platform with more than 1,300 verified users conducting regular business there.
The company handles the biofuel requirements of industry players like Seshasayee Paper & Board, TVS Group, Thermax, ITC, UltraTech Cement, Dalmia Group, JSW Steel, etc.
Buyofuel has generated a revenue of over Rs 25 crore in 2022-23.
Their objective is to ensure that Buyofuel replaces more than 1% of India’s fuel requirement, which will help people decrease their carbon emissions.