Online marketplace digitizes buying, selling of biofuels

Buyofuel, an online marketplace for all types of quality assured biofuels and wastes with a digitized interface, has emerged with the largest seller and buyer base in the alternate fuel category. It is helping non-renewable fuel consumers to switch to low or zero emission fuel options and helping them to cut their carbon emissions by moving to biofuels. Buyofuel currently has over 1,600 verified registered users, with a supply of biodiesel, solid biofuels and organic waste on a per-day basis.

According to Kishan Karunakaran, founder and CEO, Buyofuel, "The company looks to mainstream biofuels as a major fuel in India’s energy mix by ensuring that biofuels contribute to more than 10% of India’s fuel consumption."

India is currently the third largest consumer of energy in the world, importing more than 80% of its fuel requirements while generating over 350mn MT of organic wastes within India. Buyofuel aims to make India energy-secure and meet its emission goals by substituting fossil fuel consumption with biofuels manufactured within India, from wastes generated within the country.

Biofuels is a $110 Bn market globally with the Indian biofuels market being about $10 Bn. Currently, the Indian biofuels market is growing rapidly and likely to be a $50 billion market over the next few years.