Friday, February 7, 2025
spot_img
More
    HomeStartup SpotlightInnovating for a Greener Future: Kishan Karunakaran, CEO, Buyofuel

    Innovating for a Greener Future: Kishan Karunakaran, CEO, Buyofuel

    Considering the current global climate, where the transition to clean energy sources and technologies is more desirable than ever before, Buyofuel is one of the active players in the biofuel internationalisation. Leading this company is Kishan Karunakaran, who has worked in the biofuels industry for more than 16 years. His curiosity towards the scattered biofuel supply chain gave birth to Buyofuel – the very first e-commerce for biofuels and wastage in India. Employing technological advances, comprehensive approaches and environmental concerns as its basis, Buyofuel combines waste suppliers with biofuel producers and buyers and optimizes the chain to reach out greener energy solutions affordably. In the interview that follows, Karunakaran describes the history of formation and development of the company and its ways of further growth in the domestic and international markets.

    TAM: An online marketplace for biofuel is a truly unique and interesting concept. Could you provide  us with an overview of how you came up with the concept of Buyofuel, and what promoted the  decision to form this company? 

    Kishan Karunakaran: The idea for Buyofuel emerged from a deep understanding of the challenges in the biofuel industry.  I’ve been involved in the biofuel sector for over 16 years, running biodiesel plants, consulting  biodiesel projects and enhancing supply chain optimization. During this time, I noticed the industry  lacked a reliable and accessible platform to connect waste generators, biofuel manufacturers, and  consumers. The supply chain was fragmented, making it difficult for these stakeholders to collaborate  efficiently. 

    This realization drove me to create Buyofuel, India’s first online marketplace for biofuels and waste.  We aim to simplify the process, ensuring seamless transactions between raw material suppliers,  manufacturers, and end-users, while democratizing green fuels for a sustainable future . 

    TAM: Buyofuel connects waste suppliers, biofuel manufacturers, and consumers in a seamless online  marketplace. Could you elaborate on how this three-tiered system optimizes the biofuel supply  chain? 

    Kishan Karunakaran: Our three-tiered marketplace addresses key inefficiencies by providing real-time data, transparency,  and ease of transactions. For suppliers, it ensures a reliable demand for waste like saw dust, wood  chips, agro waste, used cooking oil, and even tyre and plastic waste. Manufacturers benefit from an  assured supply of raw materials and consistent uptake, while consumers access certified, high-quality  biofuels. 

    Buyofuel’s platform is designed with advanced tracking systems like BuyoTrace, which allows end-to end visibility from procurement to final delivery. This enhances the trust factor and improves supply  chain efficiency, minimizing delays and waste . 

    TAM: Nearly 25,000 metric tonnes of carbon emissions can be offset by the replacement of fossil  fuels by biofuels. What specific measures or innovations are in place to scale this impact as  transaction volumes increase?

    Kishan Karunakaran: As our platform grows, we are committed to scaling our impact through technology and innovation.  One example is our sustainability dashboard, which tracks carbon emissions reduction in real time,  allowing users to see the tangible environmental impact of their biofuel consumption. We also partner  with initiatives like the Isha Foundation’s Cauvery Calling and Sankalptaru where we plant a tree for  every 10 MT of biofuels sold. 

    Furthermore, innovations like AI-driven price and supply availability predictions are in development,  ensuring that as transaction volumes increase, we maintain transparency and enhance efficiency. 

    TAM: What key factors contribute to your ability to attract and retain large-scale industrial  consumers, and how does the platform ensure these partnerships drive long-term sustainability  goals? 

    Kishan Karunakaran: Our ability to attract and retain large-scale industrial consumers stems from several factors. First, we  offer high-quality biofuels that meet stringent industry standards. Second, we’ve developed strong  relationships by addressing key pain points like fragmented supply chains and inconsistent quality. We  also provide sustainability reporting, which helps clients meet their sustainability goals while showing  measurable impact, such as carbon offset figures. 

    Our high retention rate, over 90%, reflects the value we provide. By offering customized solutions,  real-time tracking, and diversified biofuel options, we ensure that our platform remains indispensable  to large corporates . 

    TAM: Given the diverse raw material sources such as used cooking oil, tyre waste, and agro waste,  what challenges do you face in maintaining a steady and reliable supply chain for biofuel  manufacturing? 

    Kishan Karunakaran: The diversity of raw material sources certainly presents challenges, such as variability in availability  and quality across regions. To overcome these, we’ve invested in building strong partnerships directly  with waste generators. Additionally, our platform ensures that we aggregate materials across multiple  sources, reducing dependency on any single supplier. This approach helps maintain a steady flow of  high-quality feedstock for biofuel manufacturing even in times of supply chain volatility . 

    TAM: Are there any current collaborations with government bodies and any future plans to engage  them more strategically? 

    Kishan Karunakaran: Yes, we currently collaborate with various government bodies and are actively exploring more 

    strategic partnerships. Our involvement in government programs aimed at promoting biofuel  adoption, especially in sectors like heavy industries, plays a key role in our growth. Moving forward,  we plan to strengthen these collaborations to scale biofuel adoption across India by engaging with  state-level authorities and industry-specific policy makers. 

    TAM: As a tech-driven platform, what role does innovation play in enhancing the efficiency of the  marketplace? Are there any upcoming technological developments that you believe will  significantly impact the biofuel industry? 

    Kishan Karunakaran: Innovation is at the heart of Buyofuel. Our marketplace leverages AI and blockchain technologies to  enhance supply chain transparency and efficiency. We are also developing predictive analytics tools  to help manufacturers forecast demand and optimize their raw material procurement strategies. One  

    upcoming technological development we’re particularly excited about is AI-driven pricing and  availability visibility, which will add tremendous value for both buyers and sellers by increasing market  transparency . 

    TAM: With a presence in several key Indian states, what are your plans for geographical expansion  within more Indian states? Are there any expansion plans for countries other than India? 

    Kishan Karunakaran: We have a strong presence in key Indian states like Tamil Nadu, Karnataka, Maharashtra, and more.  Our immediate focus is on expanding further within India to states with high fuel consumption like  Gujarat and Rajasthan. 

    International expansion is definitely on our radar. As biofuel adoption grows globally, we are  exploring opportunities in Southeast Asia, Europe and Africa, where the need for sustainable fuel solutions is rapidly increasing.

    Author

    RELATED ARTICLES

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Most Popular

    spot_img
    spot_img